Is “Unemployment” a Scrabble word?

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Yes
UNEMPLOYMENT
Valid in at least one Scrabble dictionary

Valid in these dictionaries

SOWPODS / CSW
Scrabble UK & International
Valid
TWL / NWL
Scrabble North America
Valid
Large English Dictionary
General English word list
Valid

Meaning of Unemployment

/ʌn.ɪmˈplɔɪ.mənt/

noun
  1. 1.The state of having no job; joblessness.

    Unemployment made Jack depressed.

  2. 2.The phenomenon of joblessness in an economy.

    Unemployment has been considered a cause of crime.

  3. 3.The level of joblessness in an economy, often measured as a percentage of the workforce.

    Unemployment was reported at 5.2% in May, up from 4.9% in April.

Synonyms: joblessness, unwork, worklessness