What term describes the percentage of the total workforce actively seeking work but currently unemployed?

The term that describes the percentage of the total workforce actively seeking work but currently unemployed is the unemployment rate. This rate is a critical economic indicator used to assess the health of an economy, reflecting the proportion of the labor force that is without work but available for and seeking employment.

In calculating the unemployment rate, only those individuals who are actively looking for work are counted as unemployed, distinguishing it from other measures that might include those not actively pursuing job opportunities. This focused definition helps policymakers and economists gauge the effectiveness of labor market policies and the overall economic conditions affecting job availability.

The other terms listed pertain to different aspects of labor statistics. For instance, the joblessness rate is not a standard term used in this context, the employment rate refers to the proportion of the working-age population that is currently employed, and the labor force participation rate measures the percentage of the working-age population that is either employed or actively seeking employment. Understanding these distinctions is important for analyzing labor market data effectively.