How will you explain the term unemployment?

Unemployment occurs when willing and capable individuals are actively seeking employment but are unable to secure jobs. It signifies a situation where a part of the workforce remains jobless despite being available for work. This condition arises due to a lack of suitable job opportunities in the market, leading to income loss and societal challenges. Unemployment can take various forms, such as frictional, structural, cyclical, or seasonal, impacting individuals and the economy.