Glossary of Terms

Illustrative Unemployment Rate Calculation

Total Labour Force
= # of employed + # of unemployed
= 14,909,700 + 1,089,600
= 15,999,300

Unemployment Rate
= Total # of unemployed/Total Labour Force
= 1,089,600/15,999,300
= 6.8%

 

Economic and Project Analysis Division, Department of Finance – (709) 729-3255 – infoera@gov.nl.ca