Please enable JavaScript.
Coggle requires JavaScript to display documents.
UNEMPLOYMENT (types and causes of unemployment (structural unemployment…
UNEMPLOYMENT
nature of unemployment
voluntary unemployment
involuntary unemployment
underemployment/ disguised underemployment
full employment
measurement
unemployment rate
natural unemployment
labor force participation rate
types and causes of unemployment
frictional unemployment
due to imperfect information, resulting in time lag
structural unemployment
due to change in pattern of demand
due to change in conditions of supply
technological improvement
movement of certain industries to a different location
regional unemployment
cyclical unemployment
due to deficiency of effective demand
seasonal unemployment
due to annual weather cycle
due to traditions and customs
real wage unemployment
due to real wages of jobs being forced to be above market clearing level
policies to reduce unemployment
frictional unemployment
better job information and improvements in employment exchange services
labour exchange establishment, to provide an information pool for use of workers and employers
improvement in industrial relations
structural unemployment
supply side policies
upgrading skills of workforce
using subsidies/ grants
industrial innovations and changes
cyclical unemployment
demand management policies to increase aggregate demand within economy
expansionary monetary policy
expansionary fiscal policy
supply management policies
wage cuts
providing subsidy
seasonal unemployment
work sharing programme
rearranging production process
other lines of production added
modifying the price system
real wage unemployment
restrict power of trade unions
reducing/ removing legal minimum wage
consequences of unemployment on economy
economic impact
loss of output of goods and services (and hence welfare loss)
fiscal costs to the government
loss of productive capacity
social impact
decrease in standard of living
unemployment in developed and less developed countries
developed countries
structural unemployment
cyclical unemployment
technological unemployment
less developed countries
frictional unemployment
seasonal unemployment
imported cyclical unemployment
demand deficient unemployment