unemployment rate
Definition
Noun: - The percentage of the work force that is unemployed at any given date: A key economic indicator that measures the proportion of the total labor force (people who are able and willing to work) that is actively seeking employment but is currently without a job. It is typically expressed as a percentage.
Usage
The term "unemployment rate" is used to discuss economic health, labor market conditions, and social policy. It is a standard metric reported by government statistical agencies. - It is often modified by adjectives describing its level (e.g., high, low, rising, falling) or its type (e.g., structural unemployment rate, youth unemployment rate). - It is commonly used with verbs like rise, fall, calculate, report, and affect.
Examples
- The national unemployment rate fell to 4.2% last quarter.
- Economists are concerned about the rising unemployment rate.
- The government publishes the unemployment rate on a monthly basis.
- A high unemployment rate can lead to decreased consumer spending.
Advanced Usage
- "Seasonally adjusted unemployment rate": A rate that has been modified to account for predictable seasonal fluctuations in employment (e.g., holiday hiring, summer jobs) to reveal underlying trends.
- "Underlying unemployment rate": Refers to the core or long-term rate, often excluding short-term volatility.
Variants and Related Words
- Unemployment (n): The state of being without a paid job but available to work. (e.g., )
- Employment rate (n): The percentage of the working-age population that is employed. This is a related but distinct metric.
- Jobless rate (n): An informal synonym for "unemployment rate."
Synonyms
- Jobless rate
Related Phrases
- To track the unemployment rate: To monitor its changes over time.
- Analysts closely track the unemployment rate for signs of economic recovery.
- A spike in the unemployment rate: A sudden, sharp increase.
- The economic crisis caused a sharp spike in the unemployment rate.
Noun
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the percentage of the work force that is unemployed at any given date
