Evaluate Alternative Measures Which Can Be Used To Reduce Unemployment

Unemployment is when you don’t have a job. Unemployed people are those who don’t have a job but are actively looking for work. Unemployment cannot be driven down to zero because the lower the unemployment rate is, the harder it will be for businesses to hire new employees. The harder it is to find qualified employees, the more

The recession of 2007-8 resulted in the great number of unemployment as illustrated previous by the DKs curve that suggested an increase in unemployment leads to decreased inflation (Arnold, 2010). Many people become jobless as the banks and other financial institutions started focusing over injecting money into the economy. This problem was to be corrected by reducing government expenditure. By doing so many people lost jobs and employment was greatly reduced.

An increase in the unemployment rate means that more individuals do not have an income, thus meaning many households suffer reduced disposable funds. This causes a decrease in the level of aggregate demand within the economy and therefore reduces economic growth. This in turn causes a slower circular flow of income, meaning that households may be forced into or past poverty, as a result of the lowered income generated, reducing the living standards and quality of life. The downturn experienced by the economy can also offset many individuals seeing them not wanting to return back to the workforce due to the lack of jobs available, making them long-term unemployed rather than cyclically unemployed, or if the firm initially was promoting structural change, structurally unemployed. Combined with poverty, the aspect of unemployment can lead to other severe mental health issues and illness reaching extremes.

There are several types of unemployment such as frictional, structural, demand-deficient, seasonal, technological, real-wage and the non-accelerating rate of unemployment. The UK economy experiences

In order to reduce unemployment rate, the U.S. government should reduce minimum wage so that employers will have more money to pay for more workers, increase the number of long term construction jobs, and decrease the number of people that are outsourced from other countries.

Unemployment has extremely negative effects on many people and businesses. The government budgets funds for unemployment benefits and when the unemployment rate rises, the government has to re-allocate funds to accommodate

Unemployment occurs when a person who is actively searching for employment is unable to find work (Investopedia). It is usually taken as a measure of the level of healthiness of an economy. Unemployment may be as a result of any or all of the following factors: - seasonal layoffs (e.g., in agricultural jobs), technological changes in industry (particularly by increased automation), racial discrimination, lack of adequate skills by the worker, or fluctuations in the economy (Ekwu, 2008).

If unemployment rises in a country it will affect the country’s standard of living in a negative way, take Jamaican economy for example, approximately 65% of the labour is unemployed, so if 65% of the population is not earning an income /income is not being generated then there is going to be a fall out in the economy which will result in recession and also the GDP will decline. If unemployment continues to increase the standard of

However, life has changed, globalization and feminism have had a huge impact on the work environment all around the world. Technology has also made many jobs easier, yet very, very similar. Because of these changes, unemployment has become an issue all around the globe. The government views the unemployment situation as an individual problem.  From the government’s perspective, unemployment is due to the lack of training of the individual.  However, because

The largest cause of unemployment can be attributed to recession. The term recession refers to the backward movement of the economy for a long period. People spend only when they have to. (Nagle 2009). With people spending less there would be less money in circulation therefore, enterprises would suffer financially and people would suffer too. This is so because recession reduces the fiscal bases of enterprises, forcing these enterprises to reduce their workforce through layoffs. These enterprises lay off their workers in order to cut the costs they incur in terms of wage and salary payments.

Frictional unemployment refers to unemployment that occurs as a result of an employee switching jobs. In many cases, frictional unemployment happens to a Job Loser or a Job Leaver. A Job Loser is somebody

There are three more types of unemployment the structural, the frictional and the cyclical. The structural unemployment is resulting from changes which occurred in the economy. These changes simultaneously open new positions for trained workers. Frictional unemployment is when people moving between jobs, careers, and locations. Cyclical unemployment can happen when the unemployment rate goes to the opposite direction as the Gross Domestic Product growth rate. So when GDP growth is negative unemployment is high.

Wages may be too high because of minimum wage laws or union activity. Consistent with classical unemployment, frictional unemployment occurs when appropriate job vacancies exist for a worker, but the length of time needed to search for and find the job leads to a period of unemployment.[5] Structural unemployment covers a variety of possible causes of unemployment including a mismatch between workers ' skills and the skills required for open jobs.[6] Large amounts of structural unemployment can occur when an economy is transitioning industries and workers find their previous set of skills are no longer in demand. Structural unemployment is similar to frictional unemployment since both reflect the problem of matching workers with job vacancies, but structural unemployment covers the time needed to acquire new skills not just the short term search process.[7] While some types of unemployment may occur regardless of the condition of the economy, cyclical unemployment occurs when growth stagnates. Okun 's law represents the empirical relationship between unemployment and economic growth.[8] The original version of Okun 's law states that a 3% increase in output would lead to a 1% decrease in unemployment.[9]

Most economists have argued that unemployment increases the more the government intervenes into the economy to try to improve the conditions of those without jobs. For example, minimum wage laws raise the cost of laborers with few skills to above the market equilibrium, resulting in people who wish to work at the going rate but cannot as wage enforced is greater than their value as workers becoming unemployed. Laws restricting layoffs made business less likely to hire in the first place, as hiring becomes more risky, leaving many young people unemployed and unable to find work.

The top causes are increased population, rapid technological change, . The various effects of unemployment include financial and social . Unemployment has become a major problem which affects our life, health, economy and community. So countries should build more companies and factories in order to provide more opportunities and positions to respond to the need of the increased population. Moreover, there should be unemployment insurance to help unemployed individuals in their financial problems till they find a job. It is important also to utilize the vocational education along with other skills courses' in order to prompt the education and skills of the workers to meet the labour market need. It creates negative affects to unemployed as they are jobless and suffer from worse prospects to find new job and those who are employed feel less secure to keep their jobs in future. However for overall development of economy, government and individuals has to take initiative steps in increasing the productivity and improving the standard of