Unemployment Rate Calculator

The unemployment rate calculator indicates the share of people who are not able to get a job or jobless from the total number of employed and unemployed labor force. It is normally depicted as a fraction of total labor force.

Unemployment Rate Definition:

“The Unemployment Rate can be measured by representing the number of unemployed persons as a percentage of the total labor force present in a country or a region”.

The labor force is known as the economically active persons of a population and it includes both employed persons and unemployed persons of a population.

The Unemployment Rate Formula:

The unemployment within a certain population can be calculated as follows:
U.R %=[Unemployed person/Total Labor Force] x100
Where:
U.R %= Unemployment rate
Total labor force=Employed persons+unemployed person

Types of the Unemployment:

There are three main categories of unemployment and the most of the unemployed person do fall into these categories:

Long Term Unemployment:

These groups of people are readily looking for a job for at least for the past 4 weeks and are without the job for at least for the past 27 weeks or more. We normally include such unemployed as Long term unemployed.

Marginally Attached Labor Force:

This group of unemployed persons has not  searched for a job in the past four weeks, but have looked for jobs in the recent past. They are called Marginally attached labor force.

Discouraged or Laid off Workers:

The Discouraged or laid off workers are fully able employees, but they are disappointed and have not looked for a full time job for a long time. They are exceptions as they are considered as a laid off or discouraged labor force due to any reason.

The unemployment rate calculator actually includes all three types of unemployment types when calculating the Unemployment rate.

Modes of Unemployment:

The various modes of unemployment are as follows:

Frictional Unemployment Mode:

This unemployment mode account for how much is unemployment in the country on a voluntary basis. It includes the voluntary job turnover, it can be understood when a person quits a job for a better offer.

Structural Unemployment Mode:

The Structural Unemployment mode causes long term unemployment. This occurs when your job skill sets no longer match the current job offer. The unemployment rate formula described can be the cause of long term unemployment in a society.

Cyclic Unemployment Mode:

The Cyclic Unemployment mode occurs during the recession and it causes the cyclic unemployment rate. The cyclical unemployment rate calculator describes during the recession the unemployment rate calculation rises dramatically. The businesses wait to hire new employees until the recession cycle is over.

Example of Unemployment Rate:

Consider the total number of the unemployed persons are 10,500 thousands and the total number of the employed persons are 160,900 thousands in state. How to calculate the unemployment rate?

Solution:

Use the unemployment rate formula, to find what is the current unemployment rate?

Unemployed persons= 10,500

Employed persons= 160,900

The Labor force =10,500+160,900=171,400 Thousand 

The natural unemployment rate formula describes the rate of unemployment. We need to add the Unemployed persons and Employed persons to find the labor force.  

How is unemployment calculated:

Unemployment rate formula= [Unemployed person/Total Labor Force] x100

Unemployment rate formula=  [10,500/171,400] x100

                                                              =6.13 %

We can find the Unemployment rate by the unemployment calculator by simply entering the data.

Working of the Unemployment Rate Calculator:

We can calculate the unemployment rate by adding the total number of employed and unemployed persons:
Input:

• Enter employed and unemployed persons
• Enter the total number of adult population
• Hit the calculate button to find the unemployment rate

Output:
The unemployment calculator provides us information about the current unemployment rate.

• Total labor force is shown 
• The unemployment rate is displayed

FAQs:

How much is unemployment benefits in Washington?

The Employment Security Department (ESD) determines how much unemployment benefits are. In Washington, the natural rate of unemployment formula is that they take two highest quarters in your base period and multiply it  0.0385.The minimum weekly benefits is amount $ 188, and maximum weekly benefits are amount $ 790.

Have to pay back the unemployment benefits in Washington?

If you get a notice from the Employment Security Department (ESD), you must return how much the unemployment benefit received. There can be many reasons for this notice like falsifying reports.

Is there an example of real time wage Unemployment?

If the trade unions are stronger, then they demand for real time Unemployment wage instead of working below that rate.

How much can you make on unemployment wages in Florida in 2021?

In Florida, the weekly benefits are determined by the total earnings for the highest paid year. It can be up to maximum of $ 275 per week.

How much is unemployment wage paid in Texas?

The WBA (Weekly benefit amount you receive in Texas is between $71 to $ 549. It all depends upon your previous wages.

How much unemployment will I get if I make $600 a week in Florida?

The Federal Pandemic Unemployment Compensation(FPUC) for anyone affected by the pandemics. He would be paid $600 per week up to 16 weeks he applied for the Reemployment Assistance.

How much does unemployment pay on average in the USA?

The unemployment pay on average in the USA is around $378 by the US labor data till 2019.

Conclusion:

The unemployment rate formula provides us with the information about the unemployment rate in a country or state. This calculation is essential to implement the economic strategies in a country or a state. The unemployment rate calculator provides us with useful information about the unemployment rate in particular societies.

References:

From the source of savingtoinvest.com: End of Pandemic Unemployment Benefit programs, Claiming Retroactive Back Payments

From the source of CNBC.com:How much unemployment,Average  unemployment benefits