Unemployment

Unemployment refers to the state of being without a job while actively seeking work. It is a key economic indicator that measures the number of people who are able and willing to work but cannot find employment. Unemployment can be categorized into several types, including cyclical unemployment, which is influenced by the economic cycle; structural unemployment, caused by shifts in the economy that create a mismatch between skills and job opportunities; and frictional unemployment, which occurs when individuals are temporarily between jobs or entering the workforce for the first time. High unemployment rates can indicate economic distress, while low rates often reflect a healthy economy.