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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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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Claimant count and labor force survey are the basic two ways to measuring countries unemployment. Neither one of these two measurements are perfect so now I am going to have a discussion about the reliability of these two measurement. Claimant count is based on counting the number of people who claim unemployment related benefits (the majority of whom claim Jobseeker allowance (JSA)) and they are willingly and able to work. The strength of this method is cheap and quick‚ the statistical department
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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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A record 202 million people could be unemployed across the world in 2013‚ the International Labour Organization (ILO) said on Tuesday. Five years on from the onset of the financial crisis‚ unemployment is on the rise again as economies around the world lose jobs and the fragile recovery is threatened by "incoherent monetary policy" in the US and Europe‚ said the ILO. According to United Nation’s agency’s latest report‚ Global EmploymentTrends 2013‚ 6% of the world’s workforce were without a job
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such vast potential at hand‚ the employment rates are creating an unfavorable environment. Nearly 60% of the population is in the ’economically productive’ age group and with the alarming fact that the rate of youth unemployment in Pakistan is 8%‚ higher than the overall unemployment rate of 6% this year. Almost half of the Pakistani workforce is unemployed according to the figures released by the Pakistan Economy Watch. The low growth in labour productivity has not matched the rising labour force
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EFFICIENCY WAGE THEORY CAN PROVIDE AN EXPLANATION OF UNEMPLOYMENT Unemployment of workers is a comment and recurrent problem in the labour market in most of the countries. Unemployment is defined as an excess supply of labour at prevailing wage. It means that the labour market is unable to be clear. A lot of the economists attempt to find out the cause of it. And the efficiency wage theory is widespread acceptable for explaining the involuntary unemployment in the modern theory‚ which is defined as the
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10‚ 2014 Disqualification of Unemployment Benefits The Statute N.M.A.S. 51-1-17‚ (2011) which is defined as New Mexico’s Annotated Statute describes the disqualification of employee benefits. A individual shall be disqualified and not be eligible to receive benefits if the individual voluntarily left employment‚ misconduct associated to the individuals employment‚ or has failed to apply for available work when it was offered. The unemployment statute was created and enacted by
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