Question

explain in short about Unemployment​

Answer 1

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✎Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequent measure of unemployment is the unemployment rate, which is the number of unemployed people divided by the number of people in the labor force.

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• Unemployment occurs when workers who want to work are unable to find jobs, which lowers economic output; however, they still require subsistence.

• High rates of unemployment are a signal of economic distress, but extremely low rates of unemployment may signal an overheated economy.

• Unemployment can be classified as frictional, cyclical, structural, or institutional.

• Unemployment data are collected and published by government agencies in a variety of ways.