Source : Webster's Revised Unabridged Dictionary (1913)

Unemployment \Un`em*ploy"ment\, n.
   Quality or state of being not employed; -- used esp. in
   economics, of the condition of various social classes when
   temporarily thrown out of employment, as those engaged for
   short periods, those whose trade is decaying, and those least
   competent.

Source : WordNet®

unemployment
     n : the state of being unemployed or not having a job;
         "unemployment is a serious social evil"; "the rate of
         unemployment is an indicator of the health of an economy"
         [ant: {employment}]