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Unemployment - Coggle Diagram

- - - - Causes:
        
        People just joining the workforce
        
        People getting fired/ quitting
        
        Mainly caused by imperfect information (info to find jobs/ seek right candidates for a job)
    - - Causes:
        
        Change in pattern of demand
        
        Change in consumer taste and preferences
        
        Competition from other industries
        
        Change in conditions of supply
        
        Technological unemployment
        
        Movement of certain industries to a different location
        
        Regional unemployment
    - - Causes:
        
        deficiency of effective demand
    - - Causes
        
        Annual weather cycle
        
        Traditions and customs
    - - Real wages forced above the market clearing level; usually caused by trade unions and wages councils
- - - - Labour exchange established by gov or trade unions/ industries
  - - - upgrading skills of workforce
      - using subsidies to manage the change in economic structure
  - - - Expansionary monetary policies
      - Expansionary fiscal policies
      - Supply management policies can be used to some extent; e.g. reduction of structural rigidities
  - - - Restriction of the power of trade unions
      - reducing or removing the legal minimum wage