Final answer:
The unemployment rate is the number of people who are actively seeking work but not currently employed, divided by the total labor force.
Step-by-step explanation:
The number of people actively seeking work but without a job divided by the labor force is the unemployment rate. This rate is not the percentage of the total adult population without jobs, but rather the percentage of adults who are part of the labor force and do not have jobs. The labor force itself consists of two groups: those who are employed and those who are unemployed but actively looking for work. To be considered unemployed, a person must be willing and able to work and actively looking for work. The calculation of the unemployment rate is critical as it helps measure the health of an economy, indicating how well it uses its labor resource and the scale of lost income and stress for jobless individuals.