Unemployment Rate

A person is unemployed if he or she is without work and is actively seeking paid work. Knowing the amount of unemployment in an economy would help gauge the overall health of that economy. Human activity in paid work can be one of the biggest resources a country has. The number of employed alone is not so meaningful. The number of employed in relation to a reference popula- tion would be more helpful in making comparisons over time. For instance, if we only cited the number of persons seeking employment we would only know that more people were seeking work.