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Unemployment worldwide – Statistics & Facts

Unemployment rate is defined as the number of people in working age that are currently unemployed but are actively looking for a job, divided by the total labor force. As of 2020, global unemployment rate stood at 6.57 percent. This figure is much higher than in previous years and can be attributed to the effects of the COVID-19 pandemic. The unemployment rate is a lagging economic indicator, which means that it reacts to past circumstances, rather than predicting in which direction an economy may evolve.

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