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Unemployment

(1,264 words)

Author(s): Monsma, George
1. Definition and Causes Those who are over a certain age (often the maximum age of mandatory school attendance), who are totally without work, and who are available for work and actively seeking it are considered unemployed by the International Labor Organization (ILO) and most countries collecting statistics on unemployment. Those who work at all for pay (and often those who work without pay in family businesses) are considered employed. The unemployment rate is the number of unemployed as a percentage of the total number of those employed and unemployed (Work). Although unemploymen…