It measures the strength of the job market. You honestly cannot get much better than people looking for work divided by the job market.
As long as you%26#039;re watching real wages as well.
What is the strength of using unemployment rate statistic?student finance
It is an indicator of the health of the economy. However, it%26#039;s not entirely reliable. There is always some unemployment -- the natural rate of unemployment -- and economists don%26#039;t always agree with what that level is. For example, the recent changes in the minimum wage will likely affect the natural rate of unemployment, but no one agrees on how much.
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