Unemployment, according to the OECD, is people above a specified age not being in paid employment or self-employment but currently available for work during the reference period.
Full employment is a situation in which there is no cyclical or deficient-demand unemployment. Full employment does not entail the disappearance of all unemployment, as other kinds of unemployment, namely structural and frictional, may remain. For instance, workers who are "between jobs" for short periods of time as they search for better employment are not counted against full employment, as such unemployment is frictional rather than cyclical. An economy with full employment might also have unemployment or underemployment where part-time workers cannot find jobs appropriate to their skill level, as such unemployment is considered structural rather than cyclical. Full employment marks the point past which expansionary fiscal and/or monetary policy cannot reduce unemployment any further without causing inflation.
Underemployment is the underuse of a worker because their job does not use their skills, offers them too few hours, or leaves the worker idle. It is contrasted with unemployment, where a person lacks a job at all despite wanting one.
Unemployment benefits, also called unemployment insurance, unemployment payment, unemployment compensation, or simply unemployment, are payments made by authorized bodies to unemployed people. In the United States, benefits are funded by a compulsory governmental insurance system, not taxes on individual citizens. Depending on the jurisdiction and the status of the person, those sums may be small, covering only basic needs, or may compensate the lost time proportionally to the previous earned salary.
In economics, a discouraged worker is a person of legal employment age who is not actively seeking employment or who has not found employment after long-term unemployment, but who would prefer to be working. This is usually because an individual has given up looking, hence the term "discouraged".
In macroeconomics, the labor force is the sum of those either working or looking for work :
Reserve army of labour is a concept in Karl Marx's critique of political economy. It refers to the unemployed and underemployed in capitalist society. It is synonymous with "industrial reserve army" or "relative surplus population", except that the unemployed can be defined as those actually looking for work and that the relative surplus population also includes people unable to work. The use of the word "army" refers to the workers being conscripted and regimented in the workplace in a hierarchy under the command or authority of the owners of capital. In Sociology, the term was coined to refer to a group of people who are employed only when they are needed or when the economy is booming only to be put out of work when circumstances change.
The economy of Kerala is the 9th largest in India, with an annual gross state product (GSP) of ₹9.78 lakh crore in 2020–2021. Per-capita GSP of Kerala during the same period is ₹257,711 (US$3,200), the sixth largest in India. In 2019–20, the tertiary sector contributed around 63% of the state's GSVA, compared to 28% by secondary sector, and 8% by primary sector.
Graduate unemployment, or educated unemployment, is unemployment among people with an academic degree.
The Organisation for Economic Co-operation and Development defines the employment rate as the employment-to-population ratio. This is a statistical ratio that measures the proportion of a country's working age population that is employed. This includes people that have stopped looking for work. The International Labour Organization states that a person is considered employed if they have worked at least 1 hour in "gainful" employment in the most recent week.
A job guarantee is an economic policy proposal that aims to create full employment and price stability by having the state promise to hire unemployed workers as an employer of last resort (ELR). It aims to provide a sustainable solution to inflation and unemployment.
Non-accelerating inflation rate of unemployment (NAIRU) is a theoretical level of unemployment below which inflation would be expected to rise. It was first introduced as NIRU by Franco Modigliani and Lucas Papademos in 1975, as an improvement over the "natural rate of unemployment" concept, which was proposed earlier by Milton Friedman.
Unemployment in the United States discusses the causes and measures of U.S. unemployment and strategies for reducing it. Job creation and unemployment are affected by factors such as economic conditions, global competition, education, automation, and demographics. These factors can affect the number of workers, the duration of unemployment, and wage levels.
Unemployment in the United Kingdom is measured by the Office for National Statistics. As of February 2024, the U.K. unemployment rate is 3.8%, down from 3.9% in January.
Migrant labourers in Kerala, India's southernmost state, are a significant economic force in the state; there were around 2.5 million internal migrants in Kerala according to a 2013 study by the Gulati Institute of Finance and Taxation. Every year, the migrant worker population in Kerala increases by 2.35 lakh (235,000) people. The study, based on long-distance trains terminating in Kerala, does not cover migrants from the neighbouring states who use other modes of transport. Assuming that the estimation is rigorous and extrapolating it, taking into account the net annual addition, possible growth in migration rate, as well as accounting for the migration from the neighbouring states, Kerala is likely to have 5 to 5.5 million inter-state migrant workers in 2020. Despite their importance and despite many of them praising the state for its welfare schemes and environment, they are often ignored in comparison and suffer from comparatively poor living conditions.
Youth unemployment is a special case of unemployment; youth, here, meaning those between the ages of 15 and 24.
Statistics on unemployment in India had traditionally been collected, compiled and disseminated once every ten years by the Ministry of Labour and Employment (MLE), primarily from sample studies conducted by the National Sample Survey Office. Other than these 5-year sample studies, India has – except since 2017 – never routinely collected monthly, quarterly or yearly nationwide employment and unemployment statistics. In 2016, the Centre for Monitoring Indian Economy, a non-governmental entity based in Mumbai, started sampling and publishing monthly unemployment in India statistics.
Unemployment in Hungary measured by the Hungarian Central Statistical Office shows the rate of unemployed individuals out of the labor force. The European Union's own statistical office, Eurostat also makes reports and predictions about the Hungarian job market and the unemployment rate in the country. The KSH's most recent unemployment data shows the unemployment rate for men 15–74 to be 3.3% and 4.1% for women.
The unemployment rate in the Republic of Korea as of December 2021 is 3.7 percent. Since its rapid globalization and democratization, the unemployment rate has been comparatively low compared to most OECD countries. This remains the case as of 2021. Being Asia’s fourth-largest economy, the country's booming exports have helped to maintain the unemployment rate very low by the standards of developed countries. There are several measurement differences between the standard of measurement set by the International Labour Organisation and the official measurement of unemployment in the Republic of Korea, set by Statistics Korea, that contribute to an inflated unemployment rate when compared to other countries that abide more strictly by the standard set by the International Labour Organisation.
