What Is Unemployment?

When a person who is actively looking for a job is unable to obtain work, they are said to be unemployed. Unemployment is frequently used as a gauge of the economy’s health. The unemployment rate, which is calculated by dividing the number of jobless individuals by the total number of people in the labor force, is the most used measure of unemployment.
Unemployment is a crucial economic indicator since it indicates employees’ capacity (or inability) to find meaningful employment and contribute to the economy’s productive output. With more jobless people, total economic production will be lower than it would be otherwise. Unemployed employees, unlike idle capital, must sustain at least subsistence consumption during their term of unemployment. This indicates that an economy with high unemployment produces less without a commensurate decrease in the demand for fundamental goods and services. Unemployment that is high for an extended period of time might indicate significant economic distress and possibly lead to social and political unrest.

In simple terms unemployment is just not finding any work/job even though you are willing to do.

But in depth unemployment is a situation where there is a huge gap between the job seekers & job providers and at the same time there are different phenomenons of unemployment like disguised unemployment, underemployment etc.