c





c 
a

 

 c


` as defined by the International Labour Organization, occurs
when people are without jobs and they have actively looked
for work within the past four weeks.

c

 

` is a measure of the prevalence of unemployment
` it is calculated as a percentage by dividing the number of unemployed
individuals by all individuals currently in the labour force
cnemployed workers
cnemployment rate =
Total labour force
 Vhat is
c


anyway?
` refers to the condition of unwanted job losses
` willing workers without jobs
but͙
not everyone who͛s out of work is seen as unemployed

 ample:
m person with a large fortune not looking a job is not counted in
the unemployed population in that he is not willing to work in
the first place, though he͛s officially out of work.
 
c


` Úrictional unemployment

` Structural unemployment

` Seasonal unemployment

` Cyclical or Keynesian unemployment

   
c


 ` This is the time when people need time to find

 the best job, thus voluntarily rubbing back and

forth between choices and staying unemployed.
` a type of voluntary unemployment that arises

 because of the time needed to match job seekers

with job openings.

 m good e ample is that when you make up your

mind and set off looking for a better job and
 abandoning the current one, you are in the
frictional unemployment labor force.
  cc 
c


 ` when a large amount of unemployed workers

 (labor force supply) don͛t qualify for a large

amount of labor force demand.
` unemployment caused by massive mismatch of

 skills or geographic location

Vhile frictional unemployment is short-term

and mostly voluntary, structural unemployment

poses more of a problem because workers must
seek jobs elsewhere or must develop the skills

 demanded.
 
 
c


 ` unemployment caused by seasonal changes in

 labor supply and demand during the year

 periodic employment, exists in any field or
industry that is dependent upon the weather.

 ms the season of Christmas comes, demand for

postal services rise sharply so is postal workers

because the workload is much bigger than that

of any seasons else in the year. mfter that,
demand for postal service drops to normal and

 so does demand for postal workers, bringing

about unemployment.
  
c


 ` the fluctuation in unemployment that is incurred

 by business cycles, more specifically, the

unemployment caused by economic recessions.
 Ñappens when firms reduce the demand for

 inputs, including labor in recessional periods

when production declines.

cntil workers can be retrained for other

positions or find jobs where demand still
remains high, they may e perience long periods

 of unemployment.
c
 

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