D-MacroEcon-Ch29d-Unemployment_Rate

Unemployment Rate

Definition

The percentage of the labor force that is unemployed

$$\text{Unemployment Rate}=\frac{\text{Number of Unemployed}}{\text{Labor Force}}\times 100$$

Types of Unemployment Rate

• D-MacroEcon-Ch29da-Natural_Rate_of_Unemployment
• D-MacroEcon-Ch29db-Cyclical_Unemployment