Share This Article:

Economic Definition of voluntary unemployment. Defined.

Offline Version: PDF

Term voluntary unemployment Definition: Unemployment that results when resources which are willing and able to engage in production choose not to produce output. These are resources (especially labor) that decide to leave one job, often in search of another. The contrast to voluntary unemployment is involuntary unemployment, in which resources are forced out of work.


« voluntary exchange | von Thunen model »


Alphabetical Reference to Over 2,000 Economic Terms