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A headline news in January 2021 states: The UK unemployment in January 2021 has risen to 5% for the first time since 2016. Some economists

A headline news in January 2021 states: "The UK unemployment in January 2021 has risen to 5% for the first time since 2016". Some economists argue this is not surprising and they argue the labour market status is actually worse than what the unemployment figure reveals. Define unemployment rate. Explain the logic behind their argument

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