Unemployment

A NEET, an acronym for "Not in Education, Employment, or Training", is a person who is unemployed and not receiving an education or vocational training. The classification originated in the United Kingdom in the late 1990s, and its use has spread, in varying degrees, to other countries, including Japan, South Korea, China, Serbia, Canada, and the United States. The NEET category includes the unemployed (individuals without a job and seeking one), as well as individuals outside the labour force (without a job and not seeking one). It is usually age-bounded to exclude people in old-age retirement.

Employment discrimination is a form of illegal discrimination in the workplace based on legally protected characteristics. In the U.S., federal anti-discrimination law prohibits discrimination by employers against employees based on age, race, gender, sex (including pregnancy, sexual orientation, and gender identity), religion, national origin, and physical or mental disability. State and local laws often protect additional characteristics such as marital status, veteran status and caregiver/familial status. Earnings differentials or occupational differentiation—where differences in pay come from differences in qualifications or responsibilities—should not be confused with employment discrimination. Discrimination can be intended and involve disparate treatment of a group or be unintended, yet create disparate impact for a group.

In economics, a recession is a business cycle contraction that occurs when there is a period of broad decline in economic activity. Recessions generally occur when there is a widespread drop in spending (an adverse demand shock). This may be triggered by various events, such as a financial crisis, an external trade shock, an adverse supply shock, the bursting of an economic bubble, or a large-scale anthropogenic or natural disaster (e.g. a pandemic). There is no official definition of a recession, according to the IMF.

Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is the proportion of people above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period.

A layoff or downsizing is the temporary suspension or permanent termination of employment of an employee or, more commonly, a group of employees (collective layoff) for business reasons, such as personnel management or downsizing an organization. Originally, layoff referred exclusively to a temporary interruption in work, or employment but this has evolved to a permanent elimination of a position in both British and US English, requiring the addition of "temporary" to specify the original meaning of the word. A layoff is not to be confused with wrongful termination.

Underemployment is the underuse of a worker because their job does not use their skills, offers them too few hours, or leaves the worker idle. It is contrasted with unemployment, where a person lacks a job at all despite wanting one.

The unemployment rate in the Republic of Korea as of December 2021 is 3.7 percent. Since its rapid globalization and democratization, the unemployment rate has been comparatively low compared to most OECD countries. This remains the case as of 2021. Being Asia’s fourth-largest economy, the country's booming exports have helped to maintain the unemployment rate very low by the standards of developed countries. There are several measurement differences between the standard of measurement set by the International Labour Organisation and the official measurement of unemployment in the Republic of Korea, set by Statistics Korea, that contribute to an inflated unemployment rate when compared to other countries that abide more strictly by the standard set by the International Labour Organisation.

The End of Work: The Decline of the Global Labor Force and the Dawn of the Post-Market Era is a non-fiction book by American economist Jeremy Rifkin, published in 1995 by Putnam Publishing Group.

The Mount Street Club was a charity in Ireland for the unemployed of Dublin. It took its name from the location of its premises at 81–82 Lower Mount Street and as an ironic echo of the Kildare Street Club, former bastion of the Protestant Ascendancy.

Get Britain Working is an initiative of the British Conservative–Liberal Democrat coalition government. As part of this scheme, young people on state benefits are offered unpaid work placement in companies. If they drop out after the first week on the scheme, they may have their benefits removed.