Unemployment Rate

Flashcard Definition

Unemployment rates are calculated as the number of unemployed people divided by the economically active population.

Block Type

Flashcard

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A guide to labour market statistics

Statistics for actual weekly hours worked measure how many hours were actually worked. These statistics are affected directly by changes in the number of people in employment and in the number of hours that individuals work. The figures are seasonally adjusted to take account of calendar- related absences from work during the reference period.

www.ons.gov.uk

“The headline measure of unemployment for the UK is the unemployment rate for those aged 16 and over. Unemployment rates are calculated, in accordance with international guidelines, as the number of unemployed people divided by the economically active population (those in employment plus those who are unemployed).”