Unemployment

When a resource is not being used in conjunction with other resources to produce either a tangible or intangible product, it is said to be idle or unemployed. Unemployment may be either voluntary or involuntary.

Unemployment is a state in which any type of productive resource or factor of production, for example, labor, land, capital, or entrepreneurial ability, may find itself, although the social problem of unemployment is considered more acute for labor than the other resources. Consequently, governments and private sources collect and report more information with greater frequency on the employment status of labor than the other resources, and governments often design and implement policies to reduce unemployment of labor.

Statistics are calculated and reported on capital employment, which is provided in terms of “capacity ...