Which term describes a situation where individuals who are able to work cannot find jobs?

The term that describes a situation where individuals who are able to work cannot find jobs is unemployment. This concept refers specifically to the portion of the labor force that is actively seeking work but is unable to secure employment. Unemployment reflects various economic factors, such as the overall health of the economy, industry demand for labor, and skills mismatches.

Understanding unemployment is crucial, as it has significant implications for both the economy and society. High unemployment can lead to decreased consumer spending, lower business revenues, and increased government spending on social support programs. It can also point to broader economic issues, such as economic downturns or structural shifts in the job market.

In contrast, terms like underemployment refer to situations where individuals are working in positions that do not utilize their skills or provide adequate hours, while inflation pertains to the general increase in prices, affecting the purchasing power. Job scarcity is a more general term that can describe a lack of job availability but does not specifically refer to individuals being unable to find work.