what is unemployment?
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Unemployment occurs when workers who want to work are unable to find jobs, which means lower economic output, while still requiring subsistence. High rates of unemployment are a signal of economic distress, but extremely low rates of unemployment may signal an overheated economy
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Unemployment is defined by the Bureau of Labor Statistics as people who do not have a job, have actively looked for work in the past four weeks, and are currently available for work. Also, people who were temporarily laid off and were waiting to be called back to that job are included in the unemployment statistics.
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