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Underemployment is a problem particularly in developing countries, where the unemployment rate is often quite low, as most workers are doing subsistence work or occasional part-time jobs. In 2011, the global average of full-time workers per adult population was only 26%, compared to 30–52% in developed countries and 5–20% in most of Africa.
The extent to which persons are not fully utilizing their skills is also difficult to determine when measuring the level of underemployment. [185] A rough comparison of September 2014 (when the unemployment rate was 5.9%) versus October 2009 (when the unemployment rate peaked at 10.0%) helps illustrate the analytical challenge.
Unemployment rate by jurisdiction. Data for all U.S. states, the District of Columbia [4] and Puerto Rico [5] is from June 2023 and September 2021, respectively. Data for Guam is from September 2019, and data for American Samoa is from 2018. Data for the Northern Mariana Islands is from April 2010 (more than ten years old) it is included but ...
The U.S. unemployment rate dropped fractionally in August to 4.2%, but it is up from 3.7% at the start of the year. ... the country's underemployment rate is now at the highest since October 2021 ...
This is a list of countries by unemployment rate.Methods of calculation and presentation of unemployment rate vary from country to country. Some countries count insured unemployed only, some count those in receipt of welfare benefit only, some count the disabled and other permanently unemployable people, some countries count those who choose (and are financially able) not to work, supported by ...
Job seekers ratio. Cold job market. Balanced job market. Hot job market. Job creation and unemployment are affected by factors such as aggregate demand, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage rates.
U.S. states by net employment rate (% of population 16 and over) 2022 [1]; National rank State Employment rate in % (total population) Annual change (%)
When the labor force are overeducated for the skill level of available employment opportunities in the economy, an underemployment equilibrium will occur. Insufficient demand addresses the same issue at the macro level. When there are many fewer job opportunities than unemployed individuals, the unemployment rate is high.