Monaco: Unemployment rate

(measure: percent; source: The World Bank)

Monaco: Unemployment rate

: For that indicator, The World Bank provides data for Monaco from to . The average value for Monaco during that period was percent with a minumum of 0 percent in 2020 and a maximum of -1000000000000000 percent in . See the global rankings for that indicator or use the country comparator to compare trends over time.
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The unemployment rate in Monaco and other countries is defined as the number of unemployed people as percent of the labor force. The labor force includes the people who are either employed or unemployed, i.e. who don't have a job but are actively looking for one. The labor force does not include people who are not looking for work, children, and the retired.

The unemployment rate seldom declines below 4-5 percent even during boom times. There are always people who move between different sectors of the economy or between cities. When the economy goes into recession, then unemployment can reach much higher numbers, sometimes even in the double digits.

Definition: Unemployment refers to the share of the labor force that is without work but available for and seeking employment.
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