UNEMPLOYMENT

Unemployment

Unemployment occurs when people are without work and actively seeking work. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate. According to International Labour Organization report, more than 197 million people globally are out of work or 6% of the world's workforce were without a job in 2012.

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unemployment

Noun

  1. The state of having no job; joblessness.
    Unemployment made Jack depressed.
  2. The phenomenon of joblessness in an economy.
    Unemployment has been considered a cause of crime.
  3. The level of joblessness in an economy, often measured as a percentage of the workforce.
    Unemployment was reported at 5.2% in May, up from 4.9% in April.
  4. A type of joblessness due to a particular economic mechanism.
    All unemployments, seasonal, frictional, cyclical, classical, whatever, mean that you're out of work.
  5. An instance or period of joblessness.
    Until them his life had consisted of low-paying jobs, numberous unemployments, and drug use.


The above text is a snippet from Wiktionary: unemployment
and as such is available under the Creative Commons Attribution/Share-Alike License.

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