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10.1 Low Unemployment - Coggle Diagram

- - - - a fall in demand for labour in one region and an increase in
        the region where it relocates.
    - - the result of technological change, which often leads to a need for new types of skills, while the demand for other
        
        computer technology
      - because of changes in the structure of the
        economy, leading to some growing industries and some declining industries.
    - - labour union activities and wage bargaining with employers
      - employment protection laws
      - minimum wage legislations
      - generous unemployment benefits
- - - - People of working age who are actively looking for a job but who are not employed.
        
        Calculating Unemployment
        
        Number: total amount of unemployed persons
        
        Cost of Unemployment
        
        Economic Costs
        
        Aloss of income for unemployed workers
        
        A loss of tax revenue for the government.
        
        Loss of real output or GDP
        
        Costs to the government of unemployment benefits and dealing with social problems resulting from unemployment.
        
        Larger budget deficit or smaller budget surplus.
        
        More unequal distribution of income
        
        Unemployed people may have difficulties finding work in the future.
        
        Personal and Social Costs
        
        Personal Problems (eg. health, family tensions etc)
        
        Greater social problems. (eg. increase in crime, drugs, parallel markets etc)
        
        Difficulties of measuring unemployment
        
        hidden unemployment
        
        Underemployment (part time workers wanting full time jobs)
        
        Overqualified workers (working jobs below their skill level)
        
        Discouraged workers (stopped looking for jobs)
        
        People in informal sectors (not officially recorded as unemployed)
        
        population groups
        
        Ethnic Groups (minorities face bias)
        
        Age (youth unemployment is often higher due to lack of experience)
        
        Gender (women may face discrimination in hiring)
        
        Regional differences (some regions have higher unemployment)
    - - People of working age with part-time jobs when they would rather work full time, or with jobs that do not make full use of their skills and education.
        
        examples + gambar