Unemployment refers to a situation in which all those who, owing to lack of work, are not working, but either seek work through employment exchanges, intermediaries, friends or relatives or by making application to prospective employers or express their willingness on availability for work under the prevailing condition of work and remuneration.
The consequences of unemployment in India are:

1. Unemployeds are not able to meet their financial obligations. So, this may lead to a decline in their standard of living.
2. Unemployment hampers the economic as well as the social status of society. Precious time lost in unemployment can never be compensated.
3. Underemployment is one of the serious consequence of unemployment. As on losing jobs people are compelled to take up jobs which do not fit their skills, experience and qualifications.