BHJ Unemployment Rates

Unemployment (or joblessness) occurs when people are without work and actively seeking work. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.

During periods of recession, an economy usually experiences a relatively high unemployment rate. According to International Labour Organization report, more than 197 million people globally are out of work or 6% of the world’s workforce were without a job in 2012.

YEAR PERIOD LABOR FORCE EMPLOYMENT UNEMPLOYMENT UNEMPLOYMENT RATE
1998 Annual 57,253 53,879 3,380 5.9
1999 Annual 56,558 52,888 3,670 6.5
2000 Annual 59,245 56,166 3,079 5.2
2001 Annual 58,650 55,500 3,150 5.4
2002 Annual 58,497 54,873 3,624 6.2
2003 Annual 58,688 54,749 3,939 6.7
2004 Annual 57,988 53,491 4,497 7.8
2005 Annual 57,521 53,305 4,216 7.3
2006 Annual 57,162 53,173 3,989 7
2007 Annual 56,959 53,438 3,521 6.2
2008 Annual 58,190 54,454 3,736 6.1
2009 Annual 58,327 51,564 6,763 11.3
2010 Annual 57,202 49,731 7,471 12.9
2011 Annual 55,658 49,485 6,173 11.1
2012 Annual 54,980 49,512 5,468 9.8