Hero unemployed reportedly (4)
I believe the answer is:
idol
'hero' is the definition.
(I've seen this before)
'unemployed reportedly' is the wordplay.
'unemployed' becomes 'idle' (associated in meaning).
'reportedly' shows a homophone (sound like).
'idle' is a homophone of 'IDOL'.
(Other definitions for idol that I've seen before include "Pop - - (TV)" , "Admired figure" , "Effigy" , "One much admired" , "Who's greatly respected" .)