What is the Unemployment Rate?
The unemployment rate is defined as the percentage of unemployed workers in the total labor force. Workers are considered unemployed if they currently do not work, despite the fact that they are able and willing to do so. The total labor force consists of all employed and unemployed people within an economy.
The unemployment rate provides insights into the economy’s spare capacity and unused resources. Unemployment tends to be cyclical and decreases when the economy expands as companies contract more workers to meet growing demand. Unemployment usually increases as economic activity slows.
There are different types of unemployment: Frictional unemployment refers to temporary unemployment during the period when people are searching for a job. Structural unemployment is a mismatch between workers’ skills or locations and job requirements. Seasonal unemployment is caused by seasonal patterns in economic activity, such as harvesting or tourism.
The methodology for calculating the unemployment rate often varies among countries since different definitions of employment and unemployment, as well as different data sources, are used.
The table below shows the unemployment rate by country for the last five years.
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Unemployment Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Albania | 17.6 | 18.0 | 17.3 | 14.2 | 13.4 |
| Algeria | 9.8 | 10.6 | 11.2 | 10.5 | 11.7 |
| Argentina | 7.1 | 7.3 | 7.1 | 8.4 | 8.4 |
| Armenia | 16.2 | 17.8 | 19.5 | 17.1 | 18.0 |
| Australia | 5.7 | 6.1 | 6.1 | 5.7 | 5.6 |
| Austria | 4.9 | 5.6 | 5.8 | 6.0 | 5.5 |
| Azerbaijan | 5.0 | 4.9 | 5.0 | 5.0 | 5.0 |
| Bahrain | 4.3 | 4.1 | 4.2 | 4.3 | - |
| Bangladesh | 4.3 | 4.2 | 4.2 | 4.1 | 4.0 |
| Belarus | 0.5 | 0.5 | 1.0 | 0.8 | 0.8 |
| Belgium | 8.5 | 8.5 | 8.5 | 7.9 | 7.1 |
| Belize | 14.2 | 12.1 | 10.2 | 11.1 | 9.7 |
| Bolivia | 4.0 | 4.0 | 4.0 | 4.0 | - |
| Bosnia and Herzegovina | 44.9 | 43.9 | 43.2 | 41.7 | 39.5 |
| Brazil | 7.1 | 6.8 | 8.5 | 11.5 | 12.7 |
| Brunei | 7.7 | 6.9 | 6.9 | 6.9 | 6.9 |
| Bulgaria | 11.8 | 10.7 | 10.0 | 8.0 | 7.1 |
| Canada | 7.1 | 6.9 | 6.9 | 7.0 | 6.3 |
| Chile | 5.9 | 6.4 | 6.2 | 6.5 | 6.7 |
| China | 4.1 | 4.1 | 4.1 | 4.0 | 3.9 |
| Colombia | 9.6 | 9.1 | 8.9 | 9.2 | 9.4 |
| Costa Rica | 8.3 | 9.7 | 9.6 | 9.5 | 9.3 |
| Croatia | 21.5 | 19.4 | 17.6 | 14.7 | 12.2 |
| Cyprus | 15.9 | 16.2 | 14.9 | 13.0 | 11.1 |
| Czech Republic | 7.0 | 6.1 | 5.1 | 4.0 | 2.9 |
| Denmark | 5.8 | 5.0 | 4.5 | 4.2 | 4.2 |
| Dominican Republic | 15.0 | 14.5 | 14.0 | 13.3 | - |
| Ecuador | 4.0 | 4.3 | 4.3 | 5.4 | - |
| Egypt | 13.2 | 13.0 | 12.8 | 12.5 | 11.8 |
| El Salvador | 5.9 | 7.0 | 7.0 | 7.0 | - |
| Estonia | 8.6 | 7.3 | 6.2 | 6.8 | 5.8 |
| Eurozone | 12.0 | 11.6 | 10.9 | 10.0 | 9.1 |
| Finland | 8.4 | 8.7 | 9.3 | 8.9 | 8.6 |
| France | 10.3 | 10.3 | 10.4 | 10.1 | 9.4 |
| Germany | 6.9 | 6.7 | 6.4 | 6.1 | 5.7 |
| Ghana | 2.2 | 2.2 | 2.2 | 2.3 | 2.4 |
| Greece | 27.5 | 26.6 | 25.0 | 23.6 | 21.5 |
| Hungary | 10.1 | 7.7 | 6.8 | 5.1 | 4.2 |
| Iceland | 5.4 | 4.9 | 4.0 | 3.0 | 2.8 |
| Indonesia | 6.2 | 5.9 | 6.2 | 5.6 | 5.5 |
| Iran | 10.5 | 11.5 | 11.8 | 12.5 | 12.1 |
| Iraq | 7.9 | 7.6 | 7.7 | 8.0 | 8.2 |
| Ireland | 13.8 | 11.9 | 10.0 | 8.4 | 6.7 |
| Israel | 6.3 | 5.9 | 5.3 | 4.8 | 4.2 |
| Italy | 12.1 | 12.6 | 11.9 | 11.7 | 11.3 |
| Jamaica | 15.3 | 13.7 | 13.5 | 13.2 | 13.0 |
| Japan | 4.0 | 3.6 | 3.4 | 3.1 | 2.8 |
| Jordan | 12.6 | 11.9 | 13.1 | 15.3 | 18.3 |
| Kazakhstan | 5.2 | 5.0 | 5.1 | 4.9 | 4.9 |
| Korea | 3.1 | 3.5 | 3.6 | 3.7 | 3.7 |
| Kosovo | 30.0 | 35.3 | 32.9 | 27.5 | 30.5 |
| Kuwait | 2.6 | 2.9 | 2.2 | 2.1 | 2.1 |
| Latvia | 11.9 | 10.9 | 9.9 | 9.7 | 8.7 |
| Lebanon | 6.2 | 6.2 | 6.2 | 6.2 | 6.3 |
| Lithuania | 11.4 | 10.1 | 8.8 | 7.6 | 6.7 |
| Luxembourg | 6.8 | 7.1 | 6.8 | 6.4 | 5.9 |
| Macedonia | 29.0 | 28.0 | 26.1 | 23.7 | 22.4 |
| Malaysia | 3.1 | 2.9 | 3.1 | 3.5 | 3.4 |
| Malta | 6.4 | 5.8 | 5.4 | 4.7 | 4.0 |
| Mexico | 4.3 | 3.8 | 4.0 | 3.4 | 3.1 |
| Moldova | 4.1 | 3.5 | 4.2 | 3.8 | 3.3 |
| Mongolia | 7.9 | 7.9 | 7.5 | 10.0 | 8.8 |
| Montenegro | 19.5 | 18.0 | 17.6 | 17.7 | 17.0 |
| Morocco | 9.2 | 9.7 | 9.6 | 9.9 | 9.9 |
| Myanmar | 4.0 | 4.0 | 4.0 | 4.0 | 4.0 |
| Netherlands | 7.3 | 7.4 | 6.9 | 6.0 | 4.9 |
| New Zealand | 5.8 | 5.4 | 5.4 | 5.1 | 4.7 |
| Nicaragua | 5.3 | 5.6 | 6.0 | 6.2 | - |
| Nigeria | 3.7 | 4.6 | 4.3 | 7.1 | 7.0 |
| Norway | 3.8 | 3.6 | 4.5 | 4.7 | 4.2 |
| Oman | 17.1 | 16.4 | 15.8 | 15.8 | 16.0 |
| Pakistan | 6.0 | 6.0 | 5.9 | 6.0 | - |
| Panama | 4.1 | 4.8 | 5.1 | 5.5 | 6.1 |
| Paraguay | 7.9 | 6.5 | 5.5 | 7.4 | - |
| Peru | 6.0 | 5.9 | 6.5 | 6.7 | 6.9 |
| Philippines | 7.1 | 6.8 | 6.3 | 5.5 | 5.7 |
| Poland | 13.4 | 11.4 | 9.7 | 8.2 | 6.6 |
| Portugal | 16.5 | 14.1 | 12.7 | 11.2 | 9.0 |
| Puerto Rico | 14.0 | 14.3 | 13.0 | 11.7 | 11.5 |
| Qatar | 0.3 | 0.2 | 0.2 | 0.2 | 0.2 |
| Romania | 7.1 | 6.8 | 6.8 | 5.9 | 4.9 |
| Russia | 5.5 | 5.2 | 5.6 | 5.5 | 5.2 |
| Saudi Arabia | 5.6 | 5.8 | 5.7 | 5.6 | 5.9 |
| Serbia | 22.1 | 19.2 | 17.7 | 15.3 | 13.5 |
| Singapore | 1.9 | 2.0 | 1.9 | 2.1 | 2.2 |
| Slovakia | 14.2 | 13.2 | 11.5 | 9.7 | 8.1 |
| Slovenia | 10.2 | 9.7 | 9.0 | 8.0 | 6.6 |
| South Africa | 24.7 | 25.1 | 25.4 | 26.7 | 27.5 |
| Spain | 26.1 | 24.4 | 22.1 | 19.6 | 17.2 |
| Sri Lanka | 4.4 | 4.3 | 4.7 | 4.4 | 4.2 |
| Sweden | 8.0 | 7.9 | 7.4 | 6.9 | 6.7 |
| Switzerland | 3.2 | 3.0 | 3.2 | 3.3 | 3.2 |
| Taiwan | 4.2 | 4.0 | 3.8 | 3.9 | 3.8 |
| Tajikistan | 2.4 | 2.4 | 2.2 | 2.3 | 2.1 |
| Thailand | 0.6 | 0.6 | 0.7 | 0.8 | 1.0 |
| Trinidad and Tobago | 3.7 | 3.3 | 3.4 | 3.9 | - |
| Tunisia | 15.8 | 15.0 | 15.2 | 15.5 | 15.4 |
| Turkey | 9.1 | 10.0 | 10.3 | 10.9 | 10.9 |
| USA | 7.4 | 6.2 | 5.3 | 4.9 | 4.4 |
| Ukraine | 7.2 | 9.3 | 9.1 | 9.4 | 9.5 |
| United Arab Emirates | 2.8 | 2.4 | 2.1 | 1.6 | 1.7 |
| United Kingdom | 7.6 | 6.2 | 5.4 | 4.9 | 4.4 |
| Uruguay | 6.5 | 6.6 | 7.5 | 7.9 | 7.9 |
| Venezuela | 7.5 | 7.0 | 6.8 | - | - |
| Vietnam | 3.6 | 3.4 | 3.4 | 3.2 | 3.2 |
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Unemployment Economic News
Greece: Unemployment rate remains steady in October
January 10, 2019
According to data released by the Hellenic Statistical Authority (ELSTAT), the number of unemployed workers fell by 11,374 in October compared with September while the seasonally-adjusted unemployment rate remained unchanged at September’s 18.6%.
Eurozone: Unemployment rate inches down in November
January 9, 2019
According to data released by Eurostat, labor market conditions in the common currency bloc improved in November.
United States: Payrolls make strong gains in December jobs report; unemployment rises due to higher participation rate
January 4, 2019
The December jobs report released by the Bureau of Labor Statistics (BLS) shows payroll gains soared in the month, delivering a strong finish to an already robust performance from the labor market in 2018.
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