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 | 27.5 | 27.5 | 27.7 | - | - |
| 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 | - | - | - | - | - |
| 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 | - | - |
| 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 | - | - | - | - | - |
| 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 | - | - | - | - | - |
| 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 | - | - | - | - | - |
| 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 | - |
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Unemployment Economic News
United States: Weak February jobs report nonetheless sees wage pressures rising; confirms strong January reading
March 8, 2019
The February jobs report released by the Bureau of Labor Statistics (BLS) shows payrolls barely budged in the month after a strong start of the year, adding to concerns about an economic slowdown.
Greece: Unemployment rate dips in December
March 7, 2019
According to data released by the Hellenic Statistical Authority (ELSTAT), the number of unemployed workers fell by 16,774 in December compared with November while the seasonally-adjusted unemployment rate dipped to 18.0% from 18.3% in the previous month.
Australia: Labor market starts new year on a strong note
February 21, 2019
Seasonally-adjusted employment increased by 39,100 in January from the previous month, following the revised 16,900 jobs added in December (previously reported: +21,600 jobs) and easily overshooting analysts’ expectations of a gain of 15,000.
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