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Pre-Unemployed 

Since you have not yet been employed full time you are not considered unemployed by the government. This describes the limbo period from when you graduate from College/University and you find a job.

Generally a "Pre-Unemployed" person moves back in with their parents and works odd jobs until a career in their field of study is found.

It is usually a soul crushing period of ones life.

In recent years due to the Recession the number of "Pre-Unemployed" people has grown tremendously.
Thank god I got a job offer before graduation, My sister didn't and she has been Pre-Unemployed for almost a year.
Pre-Unemployed by CmeDiG April 30, 2011

Pre-Unemployment 

Pre-Unemployment is the worst part of graduating without a job offer.
Pre-Unemployment by CmeDiG April 30, 2011