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Official Unemployment Rate
The percentage of active job seekers within the labor force who are presently without a job.
Imperfect Measure
A term used to describe a metric or means of evaluation that does not capture or reflect all relevant aspects perfectly.
Measuring Unemployment
The process of determining the unemployment rate by identifying the percentage of the workforce that is not currently employed but actively seeking work.
"Under the Table" Pay
Compensation received that is not reported to government authorities, often to avoid taxes or comply with regulations.
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