Unemployment exists for those people who are part of the labour force and are therefore able and willing to work at the existing wage level, yet are unable to find a paying job. Unemployment refers to the proportion of people in the working population who are unemployed, in other words it simply refers to those people who are out of work.
In Australia the most accurate statistics of unemployment are those compiled by the Australian Bureau of Statistics (ABS) on a monthly basis, whose definition of unemployment is of those persons aged 15 years and over who are not employed during a survey…
