Introduction
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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Methods
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