The unemployment rate is a key economic indicator that measures the percentage of individuals within the labor force who are actively seeking employment but are currently jobless. It serves as a critical metric for assessing the health of the job market and the overall economy.

Example
An HR manager uses the unemployment rate data to evaluate the availability of potential candidates for job openings within the company. A high unemployment rate may indicate a larger pool of qualified candidates, while a low rate could suggest a more competitive hiring environment.