Should probably add we are just starting to ramp up email and warming up lists so send volumes are small and it occured to me I should know the answer to this question.

Hi there @MichaelSheq,

Welcome and thanks for posting to the Community! The short answer to your question is that Click Rate does not include the Unsubscribe link within emails; The click rate is measuring the number of customers that click that specific email when they open It.

If you are looking to see the number of clicks going to the unsubscribe link, instead of tracking the unsubscribe metric itself, you would have to custom code that metric in.
You can find all of the documents related to the Klaviyo API here. Then you can utilize the "Track API" to track the clicking of the unsubscribe link. This event will then track the "Unsubscribe link click" separately. I would advise to be careful when working with custom coded solutions and to double-check syntax and proper formatting and integration.

Hope this helped,

Alex