what is the definition of unemployment?
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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.
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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.
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