Unemployed people are jobless, but looking for jobs and available for work. In contrast, when people have stopped working, or they cannot (or will not) work they are not counted as part of the labor force.
Unemployed is an adjective from 1667 that means: idle; not employed; without a job; out of work. As a noun, it is from 1782, meaning: people who do not have Jobs. 
- For the Unemployed Over 50, Fears of Never Working Again. by MOTOKO RICH.