Unemployment

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• The Effects of Long-Term Unemployment on the U.S. Economy Essay

  ...The Effects of Long-Term Unemployment on the U.S. Economy Unemployment is an extremely serious and scary issue due to the effect it has on our current state of economy. As a student and a future graduate, I am extremely concerned with this subject. If the job-market situation does not change for better, unemployment can represent a serious issue for all students, recent graduates, and current unemployed workers. And can have a significant effect on socioeconomic conditions and therefore, economy itself. When we look back at the history of the United States, we can see that there was only one short period of time when unemployment was virtually non-existent. As we were taught in this class, the only period when unemployment almost did not exist was during World War II. In order to support the war efforts, the United States government created jobs for anyone who wanted to work. That means that only one time in United States history the economy functioned on the line of the Production Possibility Frontier. In the earlier chapters of this course, we were introduced to basic principles of economics and to the Production Possibility Frontier. The Production Possibility Frontier is a graphical representation of various combinations of the amounts of two commodities that could be produced using the same factors of production. When the point lies on the curve line of Production Possibility Frontier that...

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• Unemployment Essay

  ...Unemployment Introduction It stands for jobless or unemployed. Unemployment consists of the labor force (working age) who have no work. Do not confuse the workforce with the inactive population. There are three types of unemployment in peripheral economies are usually four (seasonal unemployment). These types of unemployment are cyclical, structural, frictional and seasonal. Unemployment, unemployed or layoff of employees who can and want to work but cannot find a job. In societies in which most of the population lives working for others, to find a job is a serious problem. Because human costs of deprivation and the feeling of rejection and personal failure, the level of unemployment is commonly used as a measure of the welfare of workers. The proportion of workers unemployed also shows if they are properly leveraging the human resources of the country and serves as an index of economic activity. The problem of unemployment and the need to promote economic development of underdeveloped countries to achieve and maintain occupancy levels comparable with industrial countries, has been the subject of serious consideration to the United Nations. An expert committee of the United Nations economists raised the problem of unemployment to the international level, and outline a series of recommendations for achieving and maintaining levels of production and...

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• Unemployment Essay

  ...| Definition of 'Unemployment'Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. | The most frequently cited measure of unemployment is the unemployment rate. This is the number of unemployed persons divided by the number of people in the labor force. Reasons for Unemployment People can be unemployed for a variety of reasons. The Bureau of Labor Statistics (BLS) notes five prime reasons for being unemployed: (1) job losers, (2) job leavers, (3) those who have completed temporary jobs, (4) re-entrants, and (5) new entrants. It might seem as though a person is unemployed for one obvious reason--the lack of employment. The Bureau of Labor Statistics (BLS), however, tracks five different reasons for unemployment. Five Reasons The five key reasons for unemployment are: (1) job losers, (2) job leavers, (3) those of have completed temporary jobs, (4) re-entrants, and (5) new entrants. * Job Losers: A job loser is an unemployed person who has been involuntarily terminated or laid off from a job. More specifically, a job loser is: * A person who has been permanently terminated from a job and is actively seeking employment. * A person who has been temporarily laid off from a job and is not actively seeking employment due to expectations being called...

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• Unemployment Essay

  ...Unemployment 23 In an economy, both employment and unemployment rose over a ten year period. What must have risen? A birth rate B life expectancy C unemployment benefits D working population 26 When will a reduction in unemployment result in an increase in inflation? A when a high percentage of the increase in income is saved B when the economy reaches its production possibility curve C when the jobs created are unskilled D when the newly employed buy mainly imported goods 19 The world consists of two countries, Sealand and Fantasia, both of which produce just two goods, X and Y. The production of X is land-intensive and the production of Y is labour-intensive. Sealand has plentiful supplies of both land and labour. Fantasia has a relative scarcity of labour. What can be deduced from this? A Fantasia is likely to have a comparative advantage in X. B It is unlikely that Fantasia can compete with Sealand in the production of either X or Y. C It is unlikely there would be any benefit to Sealand from trading with Fantasia. D Sealand is likely to have an absolute advantage in both X and Y. 23 What will cause an immediate rise in the size of a country’s labour force? A an increase in the birth rate B an increase in the age of retirement C an increase in the school leaving age D an increase in the number of redundancies 24 When is labour productivity in a firm most likely to increase? A when a firm employs more...

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• Unemployment Essay

  ...YOUTH UNEMPLOYMENT IN NIGERIA. Definition of unemployment Unemployment is define as a situation in which person of working age, able and willing to work are unable to find paid employment. Which results to joblessness, an unemployment can be simple explained as a situation whereby, people who are available, capable of working and qualified by age to work but could not find job (employment). Unemployment has done so many harms to Nigeria youths, which result or propelled them to embark on criminal activities such as; armed robbery, car snatching, and cyber-crime etc. other obnoxious activities are; prostitution, child labour and ritual activities. And all these retract growth and development of a country (economic, political, social sectors etc.). These are few types of unemployment: A.STRUCTURAL UNEMPLOYMENT: This occurs as a result of changing a production pattern due to the fall in demand for the product of the industry. This leads to retrenchment of workers....

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• Essay on Unemployment

  ...15/03/2013 1) (a) Discuss the different types of unemployment. (20 marks) Unemployment is a condition where a person is without employment but at the same time wishes to be employed. There are a number of types of unemployment, which are as follows: Frictional unemployment: Frictional unemployment is short term and occurs when someone changes jobs. This type of unemployment is arguably inevitable as a result of the job search process and labour mobility. Seasonal unemployment: As a result fluctuating demand in relation to season, demand for labour also fluctuates, in certain seasons the demand for labour could drop, resulting in unemployment. Examples of businesses affected by seasonal unemployment are those related to tourism e.g. hotels and tourist resorts. Major festivals could also contribute towards this. Structural unemployment: Change in structure of industries can result in unemployment. If a certain industry is experiencing recession or has made advances in technology, the demand for labour could fall as business try to save money and cut down on workers or replace them with technology. “Voluntary” unemployment: this is an idea associated with certain economists who believe that certain individuals choose to be unemployed and claim benefits instead of accept work where the...

  1116  Words | 4  Pages

• Unemployment in Latvia Research Paper

  ...| THE ISSUES OF UNEMPLOYMENT ON LATVIAN LABOUR MARKET | COURSE PAPER - MACROECONOMICS | | | | | TABLE OF CONTENTS TABLE OF CONTENTS 2 INTRODUCTION 3 Description of the topic and research problem 3 Topic description and relevance 3 Research problem 3 Course paper aim and tasks 3 LITERATURE SURVEY 4 Background unemployment problems in Latvia 4 Current situation in Latvia 4 Current challenges 6 INVESTIGATION AND ANALYSIS 7 Description of the situation 7 Problem analysis 7 CONCLUSION AND RECOMMENDATIONS 9 BIBLIOGRAPHY 10 APPENDICES 11 INTRODUCTION Description of the topic and research problem Topic description and relevance The topic of this course paper deals with the global situation of Latvian employment and how to deal with the unemployment on the labor market. The today’s economic situation in Latvia suffers from unemployment and a lot of people do not have good living standards. The 2008-2009 economic crisis is responsible of this increasing unemployment. In effect, unemployment was 9% in 2003 - 2005; however, in 2009 it rose to 23% which is the highest in the European Union. Research problem During this course paper we will try to answer several questions concerning the economic situation and unemployment. However the main question we will try to answer is how Latvia can deal with its...

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• Unemployment in France Essay

  ...What caused unemployment in France? This is the underlying question, reading through the case, it is apparent that many influential people, be it, high ranking officials in the French government or students like us at Thunderbird, have all tried to understand the root problem. Many measures were taken in France during those times of crisis, however it is clear to me that all of the laws they have adjusted during that period of 1981-1994, have been “Kneejerk” reactions, rather than a sustainable solutions for French unemployment. Francois Mitterrand came to power in 1981, and at the time the French unemployment rate was rising fast, actually to be precise, the unemployment rates started rising in 1975. Till 1975 the French unemployment rates had remained quite low, and slowly that rate started increasing. Many people blamed the higher rates of unemployment on a decline in labor productivity growth. In other words the industrial revolution hit them, and unlike their neighboring countries the French weren’t ready for the computer age. And when Mitterrand, a socialist, was elected president in 1981, he had an agenda which would help lower the rates. He drastically increased the minimum wage, increased benefits, reduced the working hours to 39 and added an extra week vacation. I mentioned “Kneejerk” reactions in my introduction, and I believe that the measures that the President took in his...

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