Definition of "Unemployment"

Chad Dupuis real estate agent
Chad Dupuis, Real Estate Agent Coldwell Banker Coastal Homes

The nonavailability of jobs for people able and willing to work at the prevailing wage rate. It is important measure of economic health, since full employment is generally constructed as a desired goal. As firms fail and as individuals struggle, mortgages and other loans go unpaid. This causes real estate values to go down and hurts lenders. Loan defaults rise.

 

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