💡Unemployment = when a person is able to work but cannot find a job.

In an economy, unemployment is when there are more unemployed people than desirable jobs. 😲

Some jobs have more requirements than what a person can meet or are in an area where someone doesn't want to work. 🧐

Let's say 100 people apply for 80 jobs.

That leaves 20 people unemployed. 🧮

💡Unemployment Rate = the % of people that are unemployed. 👩‍💻

This rate changes due to lots of things, like technological changes or economic conditions. 💻

A high unemployment rate means the economy is suffering because many people can't find jobs. 📈

A low unemployment rate means an economy is productive because most people who can work are employed. 📉

So, unemployment is not just about people without jobs, it's also a key economic indicator. 📊

Now you know why it's so critical to keep an eye on unemployment rates! 👀