Structural unemployment

Regardless of the rapid growth and severe instabilities in the labor market, China 's unemployment rate has remained questionably stable at around its current level of 4.1% for the last decade or so. Unemployment rate only increased to 4.3% even when an estimated 20 million migrant workers were laid off during the global economic crisis in 2008. The reason behind this is because the official unemployment figures only includes urban workers who registered themselves as unemployed. Less than two…

Frictional unemployment is the most common type of unemployment. It refers to the time it takes unemployed people to decide on a job position and the time it takes employers to pick the right candidate. An example of frictional unemployment is when a person quits their current job in pursuit of a better one, but they have not found the new job yet. Frictional unemployment is typically short term and voluntary. However, we should monitor this…

definition of Unemployment In the most obvious sense, means "being without a job." Unemployment is when failing to get work that gets salaries paid in money. Also, unemployment is one explanation of the economic condition of people at any given time. When we have low unemployment that means the popular of the labor force is working on, or looking for secure work. Then again, when there is high unemployment, that’s when the sign of an economy is in recession, or worse. When the unemployment rate…

In October, the United States unemployment rate dropped to 5%, as a result of the addition of 271,000 jobs. The unemployment rate refers to the "number of people above the age of 16 who are actively seeking employment, but unable to find jobs" (Tragakes 265). The unemployment rate can understate the unemployment conditions that exist in an economy as it does not include underemployed workers or discouraged workers. Underemployed worker are "people over the age of 16 with part time jobs when…

Unemployment Definition Unemployment refers to the situation whereby individuals want to work however are unable to secure employment, therefore resulting in the underutilization of an economy’s labour supplies. Measurement Unemployment is measured monthly and is calculated by: Labour force participation rate refers to the percentage of the population aged 15 and over in the labour force that is employed or unemployed and is calculated by: Current statistics and Trends Australia began…

Statistic (BLS) announces the value of unemployment rate for the previous month. The rate is a key measurement of how the economy is doing, the announcement is widely watched and if the unemployment rate is different from what the financial market expects, there will be large movement in those markets. Therefore, it is important to know how the Bureau of Labor Statistic works with the unemployment rate. Measuring Unemployment There are data of unemployment rates released each month by the…

Unemployment Unemployment is defined as the state of being unemployed. When an individual is actively searching for work but is unable to find a job they are considered unemployed. The unemployment rate has an effect on the overall US economy. The unemployment rate is usually a good measure of how healthy the economy is. That is if its low the economy is doing well with jobs, if the unemployment rate is high generally the economy isn’t doing so hot. The unemployment rate is measured by the…

have proven that there is a correlation between unemployment and high crime rates. Unemployment costs the United States at least $400 billion per year in lost output. This number does not begin to add up the total cost of unemployment, which includes many serious social problems, like the increased crime rate and governmental assistance dependency (Ottosen & Thompson, 1996). In our society, there have been several fluctuations within the unemployment rates throughout the last few years. These…

the period in an economy that experienced a recessed kind of growth, followed by stagnation. The US experienced this situational change in business in December 2007 and was not a good sight to behold. The economy downturn was followed by high-end unemployment rates whereby; most people became jobless since the business cycle was completely retrogressive (Baker & Bernstein, 2014). The output factor in the market system also fell, and the government tried ways by which it could curb the situation,…

negative personal and, in an aggregate sense, societal implications for decades. These include higher chances for future unemployment, unrealized potential, and lower paying jobs in the future where employment is found and future mental health issues as well as a myriad of other problems (McQuaid, 2014). After the 2008 global financial crisis there was a sharp rise in youth unemployment around the world, and understandably so (Fig 1). In cutting costs for many business, the young and…