impact of negative growth on unemployment in countries such as those in the Caribbean [10] Unemployment arises when someone is out of work and actively seeking employment. Comparisons of unemployment internationally use a standardised measure of unemployment found a survery of the labour force. The recent global economic crisis has had a big impact on unemployment throughout the world. The Caribbean economies‚ in particular‚ have seen a sharp rise in unemployment and an increase in poverty due
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Wroughton‚ 2012). Economic problems are no longer confined to Europe and North America as China and India see worrying slump in growth (Fears of global economic slowdown weigh on emerging markets‚ 2012) This would be a new and worrying development. Unemployment is particularly high during a slowdown and it corresponds directly to a loss in GDP. Besides‚ productivity tends to fall in the early stages of economic slowdown‚ and then rises again as weaker firms close and causes the variation in profitability
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Unemployment is one of the popular and serious issues in both developed and developing countries. Therefore the government should focus on evaluating potential causes and also give some possible solutions to this problem. This alarming situation is due to some reasons. First of all‚ people are mostly dissatisfied with their salaries. They feel they get not enough money for their work. As a result‚ they prefer to take unemployment benefits than take up any job. Another reason is lack of workplaces
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What is ‘unemployment’‚ and how has it changed with the introduction of the Jobseekers Allowance and/or schemes? One of the biggest problems of the workforce‚ economy and modern society is unemployment. It is true to say that it affects almost every aspect of the government‚ especially the overall performance of economy. For government it is essential task to overcome and tackle this problem using regulations and legislations. That is why the solution for this was an introduction of Jobseekers
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MACROECONOMICS – WHAT IS STRUCTURAL UNEMPLOYMENT? EVALUATE THE MEASURES THE GOVERNMENTS MIGHT TAKE TO COMBAT IT. Structural unemployment is a branch of natural unemployment. It occurs when there is a continuous fall in demand for a particular labour market‚ derived from a change in the economy’s structure (e.g. change in consumer’s taste‚ automation‚ low cost labour alternatives in foreign countries… etc.) The reason why this is ‘natural’ is because there will always be a certain amount of structural
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How is the increasing rate of unemployment affecting the youth of South Africa? 1. Introduction A major problem in South Africa is the large number of young persons who are unemployed. In South Africa 50% of the South Africans who don’t have jobs‚ are youngsters. Today‚ a matriculation qualification is not enough to get a job in this country‚ even having a degree does not necessarily guarantee employment. South Africa has an acute problem of youth unemployment that requires a multi-pronged
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governments reduce the use of foreign workers to overcome youth unemployment? Youth unemployment is the unemployment of young people aged between 15 to 24 years old. Based on a new report by the International Labour Organization‚ the worldwide youth unemployment rate has remained high‚ at 12.6 percent in 2011 and 12.7 percent in 2012. This indicates that globally‚ nearly 75 million of youngsters are unemployed. (Refer to Figure 1) The youth unemployment possibly be the biggest concern and challenge because
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AFRICAN POLITICAL THOUGHT AND SELF-RELIANCE: PANACEA TO AMELIORATE UNEMPLOYMENT IN AFRICA Adebisi David‚ ALADE Department of History and International Studies Adekunle Ajasin University Akungba-Akoko‚ Ondo State‚ Nigeria 2348064151074; 2348024615670 aladeadebisidavid@yahoo.com Abstract In African states‚ there is high tempo of following the residual paths of Western thinkers such as Plato‚ Aristotle and John Locke‚ in the quest to formulate sound thoughts and policies. While nothing is inherently
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What are the different types of unemployment? How do they affect the economy in terms of growth‚ labor force‚ and price of labor? Cite specific examples to support your response. What are the different types of unemployment? There are four types of unemployment: Structural unemployment – depends on the social needs of the economy and dynamic changes in the economy. Frictional Unemployment – caused because unemployed workers may not always take the first job they are offered because of wages
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5. What is the Relationship between Short-term Unemployment and Inflation? What cause inflation? Inflation refers to a rise in prices that causes the purchasing power of a nation to fall. Inflation is a normal economic development as long as the annual percentage remains low; once the percentage rises over a pre-determined level‚ it is considered an inflation crisis. There are many causes for inflation‚ depending on a number of factors. For example‚ inflation can happen when governments print
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