Valentina Stoevska
December 3, 2020
- The leading source of labour statistics
Statistics on unemployment and supplementary measures of labour underutilization
The unemployment rate is probably the best-known labour market measure and is certainly one of the most widely quoted by the media. The unemployment rate is a useful measure of the underutilization of the labour supply. It reflects the inability of an economy to generate employment for those persons who want to work but are not doing so, even though they are available for employment and actively seeking work.
Other measures of labour underutilization recognized in the international statistical standards are time-related underemployment and the potential labour force.
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This issue of Spotlight on Work Statistics explores the rapid urbanization observed in the world and the accompanying shifts in employment from agriculture to non-agricultural activities. It sheds light on differences between rural and urban areas in labour force participation and labour underutilization (and especially unemployment). It also attempts to reveal differences in the quality of employment in rural and urban areas.
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Methods
Indicator description: Unemployment rate
Indicator descriptions provide a concise overview of concepts and definitions, uses, sources and limitations.
Indicator description: Time-related underemployment
Indicator descriptions provide a concise overview of concepts and definitions, uses, sources and limitations.
Indicator description: Youth not in employment, education or training (NEET)
Indicator descriptions provide a concise overview of concepts and definitions, uses, sources and limitations.
Quick guide on interpreting the unemployment rate
The unemployment rate is a key labour market indicator, but it has many shortcomings which we must take into account when interpreting it. The Quick guide on interpreting the unemployment rate provides helpful information on all the main aspects underlying this headline indicator and its limitations. It also provides tips to communicate effectively on the unemployment rate.