What is unemployment?

  • (noun): The state of being unemployed or not having a job.
    Example: "Unemployment is a serious social evil"; "the rate of unemployment is an indicator of the health of an economy"


Unemployment (or joblessness) 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. In a 2011 news story, BusinessWeek reported, "More than 200 million people globally are out of work, a record high, as almost two-thirds of advanced economies and half of developing countries are experiencing a slowdown in employment growth".

Read more about Unemployment.

Some articles on unemployment:

Unemployment - History - 20th Century
... After 1925 unemployment began to gradually rise ... The decade of the 1930s saw the Great Depression impact unemployment across the globe ... In Germany the unemployment rate reached nearly 25% in 1932 ...
Contraction (economics) - Impacts - Unemployment
... Unemployment is particularly high during a recession ... argue that there is a natural rate of unemployment which, when subtracted from the actual rate of unemployment, can be used to calculate the negative GDP gap during a recession ... In other words, unemployment will never reach 0 percent and thus is not a negative indicator of the health of an economy unless it is above the "natural rate," in which case it corresponds directly ...
Late-2000s Recession - Comparisons With The Great Depression
... Long-term unemployment is alarmingly high in the United States, half the unemployed have been out of work for over six months, something we have not seen since the Great Depression." The IMF also stated that a link ... Concerning unemployment, during the 1980–1982 recession, unemployment peaked at nearly 11% (10.8%) in November 1982 and remained above 10% from September 1982 through June 1983 ... Unemployment remained over 8% through January 1984 before dipping lower ...
Sport In Saint Pierre And Miquelon - Economy
... The rise in unemployment has been curtailed by the state financial aid for the retraining of businesses and individuals ... In 1999, the unemployment rate was 12.8%, and a third of the employed worked in the public sector ... deep sea fishing, the traditional occupation of the islanders, as the unemployment rate in 1990 was lower at 9.5% ...
Mining In Finland - Unemployment
... The unemployment rate was 8.7% in January 2013 ... rate is (persons aged 15–64) 68,6%, Unemployment security benefits for those seeking employment are at an average OECD level ...

Famous quotes containing the word unemployment:

    ... of all the aspects of social misery nothing is so heartbreaking as unemployment ...
    Jane Addams (1860–1935)

    Give a scientist a problem and he will probably provide a solution; historians and sociologists, by contrast, can offer only opinions. Ask a dozen chemists the composition of an organic compound such as methane, and within a short time all twelve will have come up with the same solution of CH4. Ask, however, a dozen economists or sociologists to provide policies to reduce unemployment or the level of crime and twelve widely differing opinions are likely to be offered.
    Derek Gjertsen, British scientist, author. Science and Philosophy: Past and Present, ch. 3, Penguin (1989)

    When a great many people are unable to find work, unemployment results.
    Calvin Coolidge (1872–1933)