Looking for job
Courtesy of chuchogm
Unemployment Rate = (Unemployed Workers / Labor Force) * 100%
Unemployed workers are those who are willing and able to work for pay but are unable to find jobs. Labor force includes all those who are willing and able to work for pay - both unemployed and employed. People with no jobs and not looking to find one are not considered in the labor force.
Major types of unemployment:
For more information about macroeconomic unemployment, please take time to read another article.
Educating the public since 2006.