celebration vs jubilation

celebration and jubilation both are nouns.

Word	Noun	Adjective	Verb	Adverb
celebration	Yes	No	No	No
jubilation	Yes	No	No	No

As nouns, celebration and jubilation are synonyms defined as:

celebration and jubilation: a joyful occasion for special festivities to mark some happy event

celebration (noun)	jubilation (noun)
any joyous diversion	the utterance of sounds expressing great joy
the public performance of a sacrament or solemn ceremony with all appropriate ritual	a joyful occasion for special festivities to mark some happy event
a joyful occasion for special festivities to mark some happy event	a feeling of extreme joy