Unemployment refers to the state of being without a job while actively seeking work. It is often measured by the unemployment rate, which is the percentage of the labor force that is jobless and looking for employment. Unemployment can result from various factors, including economic downturns, technological changes, seasonal fluctuations in demand for labor, and structural changes in the economy. It can have significant social and economic impacts, affecting individuals’ financial stability and overall economic growth. Types of unemployment include cyclical (related to economic cycles), frictional (short-term transitions), structural (mismatch of skills), and seasonal (temporary, related to specific seasons or industries). Overall, unemployment is a critical indicator of economic health and labor market dynamics.
Judicial liquidations increased by 34% last year, indicating significant business distress. Business restructurings rose by 50%, reflecting widespread economic challenges. Unemployment rates have reached 5.6%, affecting many families and communities.…