Unemployment

Unemployment: Unemployment occurs when someone actively searching for a job is unable to find employment. Often used as a measure of the health of an economy, the unemployment rate is the number of unemployed divided by the total labor force. The U.S. Bureau of Labor Statistics’ uses the “U-3” unemployment rate as the unofficial unemployment rate but this rate does not include discouraged unemployed workers who are no longer actively looking for work.

Source: Investopedia