What is meant by the term unemployment rate?
the speed at which people lose their jobs during a particular year
the length of time it takes for unemployment to go down
the number of people who want employment but cannot get jobs
the number of jobs for which employers cannot find workers
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The term unemployment rate refers to the percentage of the labor force that is currently unemployed and actively seeking employment. It represents the number of people who want employment but cannot find jobs at a specific point in time, typically measured monthly or quarterly.
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