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What does unemployment mean?

Looking for the meaning or definition of the word unemployment? Here's what it means.

Noun
  1. The state of having no job; joblessness.
  2. The phenomenon of joblessness in an economy.
  3. The level of joblessness in an economy, often measured as a percentage of the workforce.
  4. (countable) A type of joblessness due to a particular economic mechanism.
  5. (countable) An instance or period of joblessness.
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Examples
It has unemployment levels at three times the national average and truancy rates run five times above average measures.
A long slump in oil prices, 17 percent inflation and unemployment of at least nine percent has kneecapped Iran's economy.
The lowest U.S. peacetime unemployment rate since 1957 has ignited a talent war raging through corporate America.
With my final unemployment check looming, I finally knuckled under, swallowed my pride, and rejoined the TrustiTemps agency.
Throughout 2003 the monthly increases in the unemployment rate accelerated and the average number of hours worked declined.
A slower economy in turn, would cause businesses to retrench labor, increasing unemployment and slowing consumer spending further.

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