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.
The fifth issue of our series Spotlight on work statistics uses the first ever global estimates of youth not in employment, education or training along with other youth labour market indicators to explore the situation of youth in labour markets around the world, and unveil the additional challenges they face.
Discover the patterns around the world of unemployment and other forms of labour underutilization, including time-related underemployment, the potential labour force and over-education in Avoiding unemployment is not enough, the fourth issue of our series Spotlight on work statistics.