Unemployment
hideUnemployment occurs when a person is available to work and seeking work but currently without work. The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed. The unemployment rate is also used in economic studies and economic indices such as the United States' Conference Board's Index of Leading Indicators as a measure of the state of the macroeconomics.
Most economic schools of thought agree that the cause of involuntary unemployment is that wages are above the market clearing rate. However, there are disagreements as to why this would be the case: the economists argue that in a downturn, wages stay high because they are naturally 'sticky', whilst others argue that minimum wages and union activity keep them high. Keynesian economics emphasizes unemployment resulting from insufficient effective demand for goods and services in the economy (cyclical unemployment). Others point to structural problems, inefficiencies, inherent in labour markets (structural unemployment). Classical or neoclassical economics tends to reject these explanations, and focuses more on rigidities imposed on the labor market from the outside, such as minimum wage laws, taxes, and other regulations that may discourage the hiring of workers (classical unemployment). Yet others see unemployment as largely due to voluntary choices by the unemployed (frictional unemployment). Alternatively, some blame unemployment on Globalisation. There is also disagreement on how exactly to measure unemployment. Different countries experience different levels of unemployment; traditionally, the USA experiences lower unemployment levels than countries in the European Union, although there is variant there, with countries like the UK and Denmark outperforming Italy and France and it also changes over time (e.g. the Great depression) throughout economic cycles.
For more information about Unemployment, read the full article at
Wikipedia.
This text uses material from Wikipedia and is available under the GNU Free Documentation License.
News tagged with unemployment
4 in 10 US families lack money for essential household expenses when unemployed
Nov 17, 2009 |
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Today the Institute on Assets and Social Policy (IASP) at Brandeis University's Heller School released a new research and policy brief which reports that four in ten U.S. families lack sufficient assets to pay for essential ...
What does Wall Street's recovery mean to Main Street?
Oct 19, 2009 |
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(PhysOrg.com) -- The Dow Jones Industrial Average, among the world?s most closely watched stock indexes, closed above the 10,000-point mark last week for the first time since October 2008, a milestone that ...
Third quarter engineering unemployment data show mixed trends
Oct 07, 2009 |
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The unemployment rate for U.S. electrical and electronics engineers (EEs), which had jumped to a record high in the second quarter, has eased, according to third quarter data just released by the Department of Labor's Bureau ...
Bill would counter Supreme Court age bias ruling
Other Sciences / Social Sciences
Oct 06, 2009 |
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(AP) -- Democrats in Congress are trying to counter another Supreme Court decision on employment discrimination, this time taking aim at a ruling that makes it harder for older workers to prove age bias.
Fuel economy higher, thanks to Cash for Clunkers
Sep 14, 2009 |
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Cash for Clunkers may have run out of money, but certainly not gas.
Jobless and homeless, blogger scores Elle job
Aug 31, 2009 |
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(AP) -- Six months ago, Brianna Karp found herself living in an old truck and camper she inherited after the suicide of a father she barely knew.
The effect of economic recessions on population health
Aug 31, 2009 |
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Paradoxically, mortality rates during economic recessions in developed countries decline rather than increase, according to an analysis in CMAJ (Canadian Medical Association Journal). In poor countries with less than $50 ...
Social costs of job loss
Other Sciences / Social Sciences
Aug 19, 2009 |
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As the nationwide recession continues, California and 14 other states have unemployment rates hovering around 10 percent. Job loss can devastate workers, says David Dooley, UC Irvine professor of psychology & social behavior, ...
Obama announces $2.4 bln grant for electric vehicles
Aug 05, 2009 |
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President Barack Obama Wednesday unveiled a 2.4-billion-dollar funding boost for the development of new generation electric vehicles and slammed critics of his economic rescue plans.
Unemployment rate for electrical engineers soars to new record
Jul 07, 2009 |
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The unemployment rate for U.S. electrical and electronics engineers (EEs) hit a new record in the second quarter, while the rate for all engineers increased for a second straight quarter, according to data released last week ...
Germany's Infineon needs state guarantees: report
Apr 19, 2009 |
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German chip maker Infineon is in negotiations with the government over state guarantees worth several hundred million euros (dollars), the Welt am Sonntag paper reported Sunday.
Microsoft offers computer training to unemployed
Apr 14, 2009 |
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(AP) -- Microsoft Corp. announced Monday it would be giving away more than 30,000 vouchers over the next 90 days to help unemployed people in Washington state get new computer skills.
Tech offers relative job security, statistics show
Apr 01, 2009 |
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Despite layoffs at tech stalwarts like Google, IBM, Microsoft and Electronic Arts, the impact of the recession on the tech industry is likely to be far less severe than on other areas of the economy, recent labor statistics ...
Obama turns to Web to take questions from public
Mar 26, 2009 |
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(AP) -- President Barack Obama kicked off a first-of-its-kind Internet-era town hall at the White House on Thursday, pushing hard for public support of his $3.6 trillion budget and asking people to be patient ...
Vindictiveness doesn't pay
Mar 26, 2009 |
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Vindictiveness doesn't pay. This has been demonstrated by a current study at Bonn and Maastricht Universities. According to this study, a person inclined to deal with inequity on a tit-for-tat basis tends to experience more ...
