- Name
- Unemployment Rate
- Indicator purpose
- This labour market indicator measures the proportion of the labour force that is unemployed at a given point in time.
- Abstract
- This indicator gives the percent of the labour force that do not have jobs but who want to work and are available to work. It reflects individuals who are eligible and available to work. Unemployment rate is a lagging economic indicator that gives an idea of the utilization of labour.
- Contact organization / person
- SIB-Wendy Benavides
- Unit of measure
- Percentage
- Other characteristics
- Unemployed individuals are those persons who could have started a job or a business if one had been offered during the past two weeks. The labour force includes those eligible for employment and currently employed. Discouraged individuals who are no longer seeking work are excluded from the labour force. This in turn, reduces the unemployment rate even though there is no change in the economy or labour market.
- Classification used
- Unemployment rate is a lagging economic indicator which gives a sense of the level of unused human resources in the country
- Disaggregation
- 14 years and older
- Key statistical concepts
- Calculation can be done in three basic ways
i. Census and Survey: Labour Force Survey; A direct method which randomly selects 2,800 households across the country to participate. The survey captures demographic information of each household member with most questions asking about the employment status of persons 14 years and older.
The unemployment rate is then derived as follows: (Number_Of_Unemployed/Total_Labour_Force)x 100
- Recommended uses
- This indicator can be used to improve government employment and human resources policies, as well as for labour market analysis by economists and planners in both the private and public sector.
- Other comments
- The SIB conducts a Labour Force Survey twice a year during the months of April and September which are considered periods of high and low peaks of employment. Estimates are produced for each round at the national and district level as well as for urban and rural areas at the national level.
- Baseline
- 14.2% - September 2013 and 11.1% - April 2014
- Target 2020
- 1.0 percentage point reduction per year
- Target 2030
- Under 5% by 2030
