unemployment

  

Definition

Total number of able men and women of working age seeking paid work. Unemployment statistics vary according to how unemployment is defined and who is deemed to be part of the workforce. Traditional methods for collecting unemployment data are based, typically, on sampling or the number of unemployment benefit requests. International labor organization (ILO) computes unemployment on the basis of number of people who have looked for employment in the last four weeks and are available to start work within two weeks, plus those who are waiting to start working in a job already obtained.

Use unemployment in a sentence

  • During the Great Depression, unemployment rates in the United Sates grew substationally, leaving many workers throughout the country without jobs.

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  • With so many people out of work, it's no surprise that recent polls find unemployment to be a key concern among respondents.

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  • The years since the 2008 financial crisis have been host to high levels of unemployment, but those levels are now in the slow process of coming back to within the expected range for an economy reliant on a variety of types of jobs.

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