Answer to Question #307470 in Macroeconomics for geoffroy

Question

 How the unemployment rate is measured using the ILO definition? Why such unemployment rate does not have to represent the „real“ number of available workers without a job.

Answer 1

The unemployment rate is calculated by expressing the number of unemployed persons as a percentage of the total number of persons in the labour force. The labour force (formerly known as the economically active population) is the sum of the number of persons employed and the number of persons unemployed.