Unemployement
Unemployement
an unemployed…
• …person is someone of working age (16 and
up), jobless, able and available to work, and
actively looking for a job. This means anyone
without a job who is reaching out to contacts
about jobs or applying to positions.
• The level of unemployment
• Economic efficiency. During times of high unemployment, many job seekers will
accept new jobs below their skill level, a situation called “underemployment,” which
translates to a loss of human capital for an economy’s labor market. Unemployed workers
will also significantly decrease their consumer spending, which is one of the driving forces
of economic growth. Without consumer spending, the economy will slow dramatically.