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Chapter 9: Macroeconomic Aims and Problems: Unemployment, Unemployment -…
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Unemployment
Policies
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SEASONAL UNEMPLOYMENT
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rearranging the production process in such a manner that production is spread evenly throughout the year.
REAL WAGE UNEMPLOYMENT
Wages should be set at more realistic levels,
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Frictional unemployment
people leave their jobs and new entrants join the labour market and are unemployed for a period of time while they are looking for a new job
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Cyclical unemployment
deficiency of effective demand, arises especially
when there is an economic recession.
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UNEMPLOYMENT refers to the number of people of the legal working age who are willing and able to work but are unable to find suitable employment.
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