Unemployment
Unemployment refers to people without employment who meet the applicable statistical criteria for seeking and being available for work. It differs from simply not having a job: some people outside employment are economically inactive. Labour-force surveys and benefit-claim records measure different populations, so their totals need not agree. Definitions, reference periods and age coverage should be checked for the jurisdiction and series.
Worked example
A person whose job ended is actively applying and can start another job. That can satisfy survey unemployment criteria. A full-time student who is not seeking work is not automatically unemployed merely because they have no job.
Common mistake
Do not equate unemployment with everyone outside paid work or the number claiming a particular benefit. Economic inactivity and underemployment are different concepts.
Where it appears in your exams
| Qualification | Exam | Relationship | Period |
|---|---|---|---|
| ACCA | BT | Direct | September 2026–June 2027 |
| FIA | FBT | Direct | September 2026–June 2027 |
