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 unemployment rate refers to the percentage of the total labor force that is currently unemployed and actively seeking employment. It is not the number of people who want employment but cannot get jobs, but rather the proportion of the labor force that is currently without a job.
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