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Economics 101: Unemployment Rate | SterlingTerrell.net

Economics 101: Unemployment Rate


What is the unemployment rate?

The Unemployment Rate is the percent of people that are willing and able to work, but are not working.

Many complain about this calculation.

Why?

The imperative word above is "willing."

Said another way, if you are able to work, but are not looking for work, you are not calculated as part of the unemployed.