The unemployment rate is the most commonly used indicator for understanding conditions in the labour market. The labour market is the term used by economists when talking about the supply of labour (from households) and demand for labour (by businesses and other organisations).
This explainer outlines two key topics related to unemployment.
1. How is the unemployment rate measured?
2. What are the main types of unemployment?
unemployment-its-measurement-and-types
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Best regards,
David James Connolly