What Is the Definition of Unemployment

Conceptually, unemployment is the state of an individual looking for a paying job but not having one. Â  As a result, unemployment does not include individuals such as full-time students, the retired, children, or those not actively looking for a paying job. Â  It also doesnt count individuals who work part-time but would like a full-time job. Â  Mathematically, the unemployment rate is equal to the number of unemployed people divided by the size of the labor force. Â  The Bureau of Labor Statistics publishes this basic unemployment rate (known as U-3) as well as a number of related measures (U-1 through U-6) in order to give a more nuanced view of the unemployment situation in the U.S. Terms related to Unemployment: Frictional UnemploymentCyclical UnemploymentStructrual UnemploymentUnemployment Rate About.Com Resources on Unemployment: Would 0% Unemployment Be a Good Thing?Globalization, Unemployment and Recessions. What is the Link?Why Do We Use the Unemployment Rate? Writing a Term Paper? Here are a few starting points for research on Unemployment:Books on Unemployment:Search Theory and UnemploymentThe Economics of UnemploymentEnvironmental Fiscal Reform and UnemploymentJournal Articles on Unemployment:Equilibrium unemployment as a worker discipline deviceMigration, unemployment and development: a two-sector analysisUnemployment and labor market rigidities