It is a measure of rotational speed, with direction. Rotations per minute (rpm) is a measure of angular speed and if you specify the direction of rotation as well then you have the angular velocity.
There are other units possible, such as degrees per second. The second hand on an analog clock makes a rotation every minute, and rotates clockwise, so we could specify the angular velocity as 1rpm clockwise, 360 degrees per minute clockwise, or 6 degrees per second, clockwise.
For reasons I won’t go into, the direction of the angular velocity is actually into the face of the clock.
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