What is the term for individuals who are unable to find a job despite being able and willing to work?

The term for individuals who are unable to find a job despite being able and willing to work is indeed unemployment. Unemployment specifically refers to the condition where people seek work but are unable to secure a job. It encompasses various types of individuals, including those who may have recently lost their job or are entering the workforce for the first time.

Underemployment refers to situations where individuals work at jobs that do not fully utilize their skills or abilities, often implying that they are employed but not in their desired capacity. Frictional unemployment relates to the temporary periods when individuals are transitioning between jobs or are searching for their first job. Persistence unemployment, on the other hand, is not a commonly used term in labor economics and does not accurately capture the general concept of being unable to find work.

Understanding these distinctions is crucial in macroeconomics as it helps to analyze labor market dynamics and the overall health of the economy.