The unemployment rate equals
A) the rate of change in unemployment figures from one period to another.
B) the total number of people without jobs in a given period.
C) the percentage of the labor force currently unemployed.
D) the percentage of the population not currently employed.

Question

Quizplus · Accepted Answer

The unemployment rate is the percentage of the labor force that is currently unemployed. Option A refers to the rate of change in unemployment figures, but not the actual rate. Option B refers to the total number of people without jobs, which does not take into account the size of the labor force. Option D refers to the percentage of the entire population that is not employed, which includes individuals who are not in the labor force such as retirees or stay-at-home parents.

The Unemployment Rate Equals