overemployment
/ˌəʊvərɪmˈplɔɪm(ə)nt/ /ˌəʊvərɛmˈplɔɪm(ə)nt/noun
1The excessive use of a person, thing, strategy, etc.
2A situation in which the number of vacancies for jobs exceeds the number of people unemployed, producing a labour shortage.
Origin
Early 19th century (in an earlier sense). From over- + employment.