A person, who is looking for work and is willing to work at the existing wage but is unable to find a job is said to be "unemployed". Unemployment refers to the state of being unemployed. It also refers to the number or proportion of people in the working population who are employed. In other words, it is merely people who are out of work. This is, however, a generalization statement as it is much more complicated than that. There are many different types of unemployment, which should be taken into account. There are also many factors and issues that come into play. When we speak of…
