The jobless rate, also known as the unemployment rate, measures the percentage of the labor force that is unemployed and actively seeking work. It is an important economic indicator that helps assess the health of an economy. A high jobless rate may indicate economic distress, while a low rate suggests a thriving job market. To calculate the jobless rate, the number of unemployed individuals is divided by the total labor force, then multiplied by 100. The labor force includes all people aged 16 and older who are either employed or actively looking for work. This statistic is often reported by government agencies, such as the Bureau of Labor Statistics.