unemployment

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.

in structure of demand for products of different industries, elimination of outdated industries and professions. For instance, unemployment is caused by foreign competition or Cathy lost her job as a cashier due to the creation and use of self-bill out counters. Structural unemployment exists where there were unemployed workers may be short of technical capacity of talent and the claim of the new job opportunities. They are employed but at the same time are unemployed at other time. When a season’s occupation is not a demand occurs. Ski resort unemployment is may be higher in the summer because there snow.

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.

One of the scariest word for many individuals among the United States can be unemployment. Many families across America have had to deal with the hard blow that can come with losing a job, or not being able to find a job. Unemployment will always be around to snatch the job from any unwilling victim. While unemployment may seem like a broad term, there are actually four categories, or types, of unemployment. These four types are structural, cyclical, frictional, and seasonal.

The most controversial subject of economic turmoil, is the unemployment factor. In most of today’s unemployment terms, we are often limited to those that are actively seeking employment when numbers are counted. The one thing that is not looked at, is once someone has given up on finding employment or has settled for a less than opportune place of employment, the adjudication factors heavily on personal levels, rather that economic levels. The Great Depression was one of the most torturous, destructive time during what was a time of lost hope and failure. Piven and Cloward go in-depth with the scarcities and hatred that led to the demise of many families, orphaned children and relentless appeals by groups to help those less fortunate. One cannot fathom the suffering that went on for more than a decade before recovery for the economy as a whole, but learning from those mistakes, has probably made it easier for a quicker turnaround and more economical choices. The unemployed workers movement is a more intense than that of a walk out, it was a shakedown to be reckoned with. It was time to organize.

Attending college or pursuing a higher education is worth it because a degree ensures a stable, well paying job and provides a better quality of life. In Document A, “Earning and Unemployment Rates Based on Educational Attainment, 2015” compiled by the United States Bureau of Labor Statistics, a higher educational degree, such as a Doctorate or Professional degree, corresponded to a lower unemployment rate with a higher pay, while little to no educational degree corresponded to a higher unemployment rate with a lower pay. This means people who received a college degree had a better chance of finding and retaining a well-paying job because they are typically skilled in one profession that cannot easily be replaced, such as a doctor or engineer.

There are three different kinds of unemployment that affect our economy: frictional, cyclical and structural. Frictional unemployment occurs when there is a time laps between being employed and looking for work. This term can also be referred to as search employment because it is the time spent searching for a place of employment. One example of this would be a student taking time off of work to finish college and get a 4 year degree. Usually, it takes a lot of time and dedication to finish the last years of school, so some students tend to go to school full time and work part time or not at all. This type of unemployment is also classified as voluntary unemployment because this period of unemployment is at the discretion of the person to some small degree. Secondly, there is cyclical unemployment which changes depending on the business need; for example, workers are laid off when business is bad - then

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

Confusion about who the employer is Low wages Other - TO CONTINUE WITH EMPLOYEES, GO TO Q.26

Firstly Cyclical unemployment or demand deficient unemployment is caused by a lack of spending throughout the economy and generally affects all sectors of the economy because spending is falling. To overcome this, the government needs to introduce policies which seek to boost spending throughout the economy. An example would be a loosening of monetary policy and cutting interest rates which make borrowing for individuals and businesses cheaper. They borrow money which is then spent in the economy which

Marcelle was laid off from automobile manufacturing firm because the economy had taken a bad turn. This type of unemployment in this case refers to cyclical unemployment. This type of unemployment emerges due to ups and downs in economic activities. When economic activities are at their highest level, describes as economic boom, cyclical unemployment will be low. The economy enters a recession, but it only temporary so as soon as the market picks back up he be able to find a job. On top of that benefits would be tight as well as many people our out of the job.

Throughout history, economies have experienced times of high growth and low unemployment as well as times of little or negative growth and high unemployment. It is controversial whether or not these instances occurred from regular fluctuations in the market. These alternating up and down fluctuations typically occur over several years, with each individual cycle varying in length and intensity. These fluctuations are known as business cycles, which have four phases. When the cycle is at its peak, the economy is nearly at full employment and the economy is producing at or nearly at full

Timing of the business cycle is not predictable, but its phases seem to be. Many economists site four phases—prosperity, liquidation, depression, and recovery. During a period of prosperity, a rise in production leads to increases in employment, wages, and profits. Obstacles then begin to obstruct further expansion. Production costs can increase, helping create a rise in prices, and

According to one article, “Structural unemployment occurs when certain industries decline because of long term changes in market conditions” ("Unemployment types", 2017). More specifically, as Amadeo states, structural unemployment occurs when “Factories move to cheaper locations” (2017) and more efficient options (such as newer technologies, more skilled employees, etc.) are undertaken. Moving on to the minor types, surplus, being the first, is “caused by minimum wage laws, unions and wage/price controls. When wages are set at a high level, unemployment often results” (Amadeo, 2017). The second minor type is demand deficient unemployment. When there is less demand for a particular product, “firms sell less and so reduce production. If they are producing less, this leads to lower demand for workers” (Pettinger, “Demand Deficient Unemployment”, 2017). Therefore, as the name implies, this is caused by an unmet demand when compared to the people in that specific line of work. The third minor, but also major, type is full employment, which is known to be “devoid of cyclical or deficient-demand unemployment” ("Full Employment", 2017), according to one source, and is not simply, as the name suggests, where everyone has a job. In addition, “full employment means that unemployment has fallen to the lowest possible level without provoking inflation” (Palmer, 2016). Regional unemployment is the fourth minor type, being impacted by structural unemployment and,

The next important step is to determine whether this unemployment is cyclical and due to the periodic nature of the business cycle or structural, meaning