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Unemployment rates

Unemployment rates measure the percentage of people in the labor force who are actively seeking jobs but cannot find work. It’s an important indicator of economic health. A high unemployment rate suggests that many people are struggling to find jobs, which can signal economic challenges. Conversely, a low unemployment rate generally indicates a strong economy, where jobs are more readily available. However, this rate doesn’t account for those who have given up looking for work or are underemployed, so it provides a partial view of the job market’s overall health.

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    Unemployment rates measure the percentage of people in the labor force who are actively seeking work but cannot find jobs. This rate is an important economic indicator, reflecting the health of the job market and the overall economy. A high unemployment rate suggests economic challenges, such as recessions, while a low rate indicates a robust job market. It's calculated by dividing the number of unemployed individuals by the total labor force and multiplying by 100. Various factors can influence these rates, including economic conditions, seasonal trends, and government policies.