Official unemployment is identified as when: a. a worker who is not currently employed stops searching for a job. b. a worker retires from her job. c. a worker who is not currently employed is searching for a job unsuccessfully. d. a worker who is not currently employed stops searching for a job because she feels there is no job available for her. e. a worker leaves her job to attend school full-time.
Added by Brianna J.
Close
Your feedback will help us improve your experience
Sri K and 70 other Microeconomics educators are ready to help you.
Ask a new question
Labs
Want to see this concept in action?
Explore this concept interactively to see how it behaves as you change inputs.
Key Concepts
Recommended Videos
In case of urban areas, educated unemployment has become a common phenomenon. Many youth with matriculation, graduation, and post-graduation degrees are not able to find jobs. A study showed that unemployment of graduates and post-graduates has increased faster than among matriculates. A paradoxical manpower situation is witnessed as a surplus of manpower in certain categories coexists with a shortage of manpower in others. There is unemployment among technically qualified persons on one hand, while there is a dearth of technical skills required for economic growth. Questions: a) What do you understand by the term 'unemployment'? b) In the case of urban areas, educated unemployment has become a common phenomenon. What impact can educated unemployment have on the economy of a country? (Any two) c) Suggest any two measures in the education system to mitigate the problem of educated unemployment.
Sri K.
Breanna O.
The type of unemployment that is linked to the business cycle is known as cyclical unemployment. This occurs when there's a downturn in the business cycle, such as during a recession. During these times, businesses might see a decrease in demand for their products or services, leading to a reduction in production. This then decreases the demand for labor, causing workers to be laid off or have difficulty finding jobs, which increases cyclical unemployment. Cyclical unemployment is directly tied to the fluctuations in the economy and is seen as a temporary form of unemployment. It tends to rise during economic downturns and fall during periods of economic growth. It's often used as an indicator of the overall health of the economy.
Rachel G.
Recommended Textbooks
Principles of Economics
Principles of Microeconomics for AP® Courses
Economics
Transcript
Watch the video solution with this free unlock.
EMAIL
PASSWORD