Unemployment


 
 
Concept Explanation
 

Unemployment

The term unemployment refers to a situation where a person actively searches for employment but is unable to find work. Unemployment is considered to be a key measure of the health of the economy.  Unemployment occurs when workers who want to work are unable to find jobs. Unemployment data is collected and published by government agencies in a variety of ways. Unemployment is a key economic indicator because it signals the ability (or inability) of workers to obtain gainful work and contribute to the productive output of the economy. More unemployed workers mean less total economic production.

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