Unemployment, according to the OECD, is persons above a specified age not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force
Unemployment is a term referring to individuals who are employable and actively seeking a job but are unable to find a job. ... Usually measured by the unemployment rate, which is dividing the number of unemployed people by the total number of people in the workforce, unemployment serves as one of the indicators.
Unemployment is defined as the situation of being without a job. If 10 percent of people in America are looking for work and cannot find it, this is an example of when the unemployment rate is 10 percent. If you are fired from your job and do not have a new one, this is an example of unemployment.
