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28 April 2018

What is the definition of Unemployment




Unemployment:
Definition: Unemployment is the number of adult workers who are not employed and seeking jobs.

To be classified as unemployment a person must.
  • Be able and willing to work 
  • Be activity seeking job and 
  • Be without a job

Nice to know:
Unemployment is the conditions of the economy in which some factors of production are not being used in the production of goods & services.


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