Unemployment Rate*

Actual
4.8%
Previous
4.8%
Forecast
4.8%

The Unemployment Rate is a figure released by the National Statistics and calculated by dividing the number of out of work individuals in the labor force, by all individuals currently in the labor force. The unemployment rate does not include part time or 'underemployed' individuals who actively seek full time work. Usually, unemployment is indicative of the economy's production, workers' earnings, private consumption, and consumer sentiment. High unemployment generally indicates that an economy is unsatisfying or has a falling gross domestic product and low unemployment may reflect an expanding economy. At the same time, unemployment data can also point to changes in certain industries.

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