An economic condition marked by the fact that individuals actively seeking jobs remain inhered. Unemployment is expressed as a percentage of the total available workforce. The level of unemployment varies with economic conditions and other circumstances. they receive job seeker allounce.
People with jobs are employed, people who are jobless, looking for a job, and available for work are unemployed, people who are neither employed nor unemployed retires, full-time homemakers, full-time students are counted as not in the labour force.
Employment counts part-time and temporary work, you are counted as employed, if you have a work, but did not work for reasons such as vacation or illness.
To be unemployed, one must have actively looked for a job within the period four we ks and be currently available for work.
The bureau defines actively looking for work as including contacting an employer, sending out resumes and checking union or professional job registers.
Unemployment differences are more persistent by population subgroup. The unemployment rate usually is the same for women and men, however for teenagers is different, because its much higher. The rate for African- Americans is generally much more higher than for a whites.
We can divide unemployment into three groups:
1. frictional- due to frictions in labour market- some must seeking for jobs, because their old job ends before an acceptable new ob begins.
2. technological- technological advance means capital is employed to replace labour.
3. structural which we can divide also into 2 part
- occupational- falling demand for labour in one sector where unemployed are unable to move to take up job vacancies in growth sector
- geographical- falling demand for labour in one region where unemployed are unable to move to take up job vacancies in growth regions.
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