Unemployment (original) (raw)

The goal of the future is full unemployment, so we can play. That’s why we have to destroy the present politico-economic system. ~ Arthur C. Clarke

Unemployed men outside a soup kitchen in Depression-era Chicago, Illinois, the US, 1931

Unemployment (or joblessness) occurs when people are without work and actively seeking work. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate.