unemployment rate A statistic that compares the number of people in the labor force who do not have a job but are looking for one to the total number of people in the labor force. Related Related Articles: Glossary: Okunæäóîíšs LawWill We Have More Pandemic Babies?What the Unemployment Rate HidesDeciding if We Are in a “She-Cession”The Basics of the Pandemic Recession Ann Mills Share This Previous Articletight money No Newer Articles December 17, 2020