In industrialized countries in which most people can earn a living only
by working for others, being unable to find a job is a serious problem. Because
of its human costs in deprivation and a feeling of rejection and personal
failure, the extent of is widely used as a measure of workers'
welfare. The proportion of workers unemployed also shows how well a nation's
human resources are used and serves as an index of economic activity. Economists
have described the types of unemployment as frictional, structural, and cyclical.

The first form of unemployment is Frictional unemployment. Frictional
unemployment arises because workers seeking jobs do not find them immediately.
While looking ...

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States is frictional and
lasts only a short time. This type of unemployment could be reduced somewhat by
more efficient placement services. When workers are free to quit their jobs,
some frictional unemployment will always be present.
The second form of Unemployment is structural unemployment. Structural
unemployment arises from an imbalance between the kinds of workers wanted by
employers and the kinds of workers looking for jobs. The imbalances may be
caused by inadequacy in skills, location, or personal characteristics.
Technological developments, necessitate new skills in many industries, leaving
those workers who have outdated skills without a job. A plant in a declining
industry may close down or move to another area, throwing out of work those
employees who are unable or unwilling to move. Workers with inadequate education
or training and young workers with little or no experience may be unable to get
jobs because employers believe that these employees would not produce ...

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Unemployment. (2004, January 26). Retrieved February 24, 2019, from http://www.essayworld.com/essays/Unemployment/2067
"Unemployment." Essayworld.com. Essayworld.com, 26 Jan. 2004. Web. 24 Feb. 2019. <http://www.essayworld.com/essays/Unemployment/2067>
"Unemployment." Essayworld.com. January 26, 2004. Accessed February 24, 2019. http://www.essayworld.com/essays/Unemployment/2067.
"Unemployment." Essayworld.com. January 26, 2004. Accessed February 24, 2019. http://www.essayworld.com/essays/Unemployment/2067.
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Added: 1/26/2004 09:54:53 PM
Category: Economics
Type: Premium Paper
Words: 619
Pages: 3

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