Unemployment is a serious issue that affects every economy. There are four major types of unemployment, frictional, structural, cyclical and seasonal. The unemployment rate is measured by dividing the number of persons employed by the amount in the labor force. Persons who are unemployed are categories as job losers, job leavers, new entrant, reentrant and discouraged workers. The flow of persons leaving and entering the labor force will decide the stock of the employed plus the unemployed. The period of unemployment will affect the unemployment rate. If the length of unemployment increases, the amount of unemployed that was measured will increase even though the unemployment rate remains the
Unemployment is a serious issue that affects every economy. There are four major types of unemployment, frictional, structural, cyclical and seasonal. The unemployment rate is measured by dividing the number of persons employed by the amount in the labor force. Persons who are unemployed are categories as job losers, job leavers, new entrant, reentrant and discouraged workers. The flow of persons leaving and entering the labor force will decide the stock of the employed plus the unemployed. The period of unemployment will affect the unemployment rate. If the length of unemployment increases, the amount of unemployed that was measured will increase even though the unemployment rate remains the