Unemployment

Because of its traumatic effects on those who experience it, unemployment is a matter of widespread concern. Its causes and consequences have been topics of investigation and of controversy in economics, and in psychology and sociology. On some occasions its limitation has been made a policy objective, and on others it has been used as an instrument of policy. Its harm can be mitigated but there is no prospect of its elimination.

Definitions

The term unemployment refers either to a condition or to a quantity. As a condition it simply means a frustated desire for employment (usually for paid employment, although a person who is debarred from wished-for unpaid employment might considered himself to be unemployed). As quantity it is more difficult to define, requiring the stipulation of arbitrary boundary conditions.