what is unemployment
Answers
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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Answer:
What is Unemployment?
Unemployment is a situation when a person actively searches for a job and is unable to find work. Unemployment indicates the health of the economy.
The unemployment rate is the most frequent measure of unemployment. The unemployment rate is the number of people unemployed divided by the working population or people working under labour force.
Unemployment rate = (Unemployed Workers / Total labour force) × 100
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