Also means
layoff
Usage Note
Cesantía is the standard term for unemployment or the state of being laid off, especially in Chile, Argentina, and other Southern Cone countries. In Spain the more common terms are desempleo or paro. It can also refer to the severance pay or benefit received after dismissal: cobrar la cesantía.
Examples
"La cesantía aumentó durante la crisis."
Natural Translation
Unemployment rose during the crisis.

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