What is the definition of unemployment?

Unemployment is defined as the percentage of the labor force that is without a job but is actively seeking employment. This definition encompasses individuals who are willing and able to work but cannot find suitable employment, reflecting a critical aspect of the economy's performance. It is essential to measure unemployment to understand the health of the job market and the economy as a whole.

The correct answer highlights the relationship between the labor force and those actively seeking work, providing insight into economic conditions and helping policymakers implement strategies to address joblessness. This information is crucial for assessing the effectiveness of economic policies and labor market programs.

In contrast, the other options either reflect different aspects of the labor market or do not focus on individuals who are out of work yet seeking employment, which is central to the definition of unemployment.