employment vs occupation

employment and occupation both are nouns.

Word	Noun	Adjective	Verb	Adverb
employment	Yes	No	No	No
occupation	Yes	No	No	No

As nouns, occupation is a hypernym of employment; that is, occupation is a word with a broader meaning than employment:

Other hypernyms of employment include business, job, line, line of work.

employment (noun)	occupation (noun)
the occupation for which you are paid	the principal activity in your life that you do to earn money
the act of using	the act of occupying or taking possession of a building
the act of giving someone a job	the control of a country by military forces of a foreign power
the state of being employed or having a job	any activity that occupies a person's attention
	the period of time during which a place or position or nation is occupied