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C10: MACROECONOMICS PROBLEM - Coggle Diagram
C10: MACROECONOMICS
PROBLEM
UNEMPLOYMENT
DEFINITION
LF participations
available and willing to work
but unable to find a job
formula UE rate: (number of UE/LF) * 100
EFFECT
an individual & society
low standard of living
loss of livelihood and income
social problems
loss of job skills
family dispute
loss of confident
economy & government
drop in government revenue
ruins of econs growth
increase in criminal rate
threats to political stability
fall in GDP (national income)
TYPES
CYCLICAL UE
occurs jobs because of a downswing of production
Eg: lost their jobs during covid-19
STRUCTURAL UE
because when there is changes of economics policies
Eg: jobs effect by technological chenges of their jobs
FRICTIONAL UE
Eg: fresh graduate seeking for a permanent job
SEASONAL UE
occurs when seasonal variations in the XTVT in industries
Eg : freshman cart catch fish in winter season
INFLATION
DEF continuous increasing in general price
FORMULA : current price - previous price previous / previous price * 100