Which of the following statements is the best explanation of how the unemployment rate is measured? (1 point)
O The unemployment rate measures the percentage of individuals actually looking for employment, but who cannot obtain employment.
O The unemployment rate measures the percentage of individuals in the gig economy such as freelance workers, independent contractors, or temporary workers.
The unemployment rate measures the percentage of individuals who are retired.
O The unemployment rate measures the percentage of individuals underemployed.

The unemployment rate is measured by the percentage of individuals in the labor force who are not working but are actively seeking employment. This rate is calculated by dividing the number of unemployed individuals by the total number of people in the labor force. Individuals who are underemployed or not actively seeking employment are not counted in the unemployment rate.

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