Unemployment is the state in which a person is without work, available to work, an is currently seeking work. The unemployment rate is used in economic studies and economic indexes such as the United States' Conference Board's Index of Leading Indicators. The rate is determined as the percentage of those in the labor force without jobs.

Trivia about unemployment

  • The level of this is seasonal, rising in June when students look for work
  • The 1935 Social Security Act established this type of insurance nationally
  • If you get fired, you may be able to file for this
  • As the depression hit Europe, this figure in Belgium went from 5.4% in 1930 to 23.5% in 1932
  • In May 1953 the average rate of this was only 2.5%, in Sept. 2011, it was 9.1%
  • The government tracks it as a percentage; it's brought to life as the title of a work by Depression artist Ben Shahn