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UNEMPLOYMENT RATE

The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labour force. During periods of recession, an economy usually experiences a relatively high unemployment rate.

High and persistent unemployment, in which economic inequality increases, has a negative effect on subsequent long-run economic growth. Unemployment can harm growth not only because it is a waste of resources, but also because it generates income redistribution pressures and subsequent distortions, drives people to poverty, constrains cash liquidity limiting labour mobility, and erodes self-esteem promoting social disturbance, unrest and conflict. Prominent economists have said that rising inequality is however the most important problem.

2016 STATE OF STATES RANKINGS FOR UNEMPLOYMENT RATE



RANK
STATE
UNEMPLOYMENT RATE*
GDP*


* - 2015 Estimates



Source:
National Bureau of Statistics
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