As it happens in many terms, unemployment is one of those words that incurs several meanings. Today we are going to explain some of them, the ones that are most related to the economy.
In the first place, we can understand unemployment as the state in which a person has become unemployed, that is, they have lost their job. In this sense, the word unemployment can be a synonym of being unemployed or unemployed (as it is known in Spain).
Second, the word unemployment can also acquire the meaning of money that is received for being unemployed, for not having a job. The social benefit (economic contribution) that is received when a job has been lost is also known as unemployment. In many cases, as is the case in Colombia, this benefit supposes a right and works as an insurance against the unemployment. If the value is not settled at the end of the year, it is added to a Severance Fund that is chosen by the employee.
On the other hand, in some countries, the term refers to the cancellation or resignation of an employment contract, decided by the employee himself. Obviously this causes the employee to immediately lose his job (unless he has obtained or was waiting to join another).
Finally, another of the meanings of the term was widely used in Spain, during the nineteenth century, when there were many changes of governments and officials did not stay long in office. For this reason, the meaning that is collected is of the official who, by decision of a superior (in this case, due to a new government), was deprived of his job so that another person could do it. In some cases, part of their salary was paid.