When more and more people are thrown out of work, unemployment results.

Youth unemployment – a ticking time bomb, or is it already here?

Unemployment is defined as a situation where someone of working age is not able to get a job but would like to be in full time employment. Unemployment represents the number of people in the work force who want to work but do not have a job. It is generally stated as a percentage and calculated by dividing the number of people who are unemployed by the total work force. The terms unemployment and unemployed are sometimes used to refer to other inputs to production that are not being fully used, for example, unemployed capital goods. In economics, unemployment refers to the condition and extent of joblessness within an economy, and is measured in terms of the unemployment rate, which is the number of unemployed workers divided by the total civilian labor force.