Unemployment occurs when a person's available to work and seeking work but currently without work. The prevalence of unemployment's usually measured using the unemployment rate, which's defined as the percentage of those in the labor force who're unemployed. The unemployment rate's also used in economic studies and economic indices such as the United States' Conference Board's Index of Leading Indicators as a measure of the state of the macroeconomics. Most economic schools of thought agree tha… (More on Unemployment)