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The Problem Of Unemployment Essay

1080 Words5 Pages

Introduction
Major problems in every country are unemployment, inflation and deflation to an economy. Unemployment is one of the serious problem that government faces. Unemployment is a person 16 years old and above who is not working, is available for work and has made specific efforts to find work more than four week. They will not be counted in the labour force if they don 't keep looking. Unemployment also known as a universally bad thing. The government tries to find solutions in order to reduce unemployment by making up policies.
Inflation is considered one of the most sensitive macroeconomic phenomena in modern economics inducing significant deformations in the productive structure of the economy and sociable injustice in the market. …show more content…

Even in a healthy economy, frictional and structural unemployment will also occur.
Frictional unemployment is transitional unemployment due to people switching between jobs, either because they have been made redundant or are looking for new employment. It may also be called ‘search unemployment’ as it relates to the time taken to search for new job. Frictional unemployment will always exist in an economy due to there are not perfect information and it takes time to find work. First, unemployment is voluntary. Some of the unemployed have saved enough money so they can quit unfulfilling jobs or choosing to remain unemployed. They have the luxury to search until they find just the right opportunity. Second, workers move because of unrelated reasons. They are unemployed until they find a job in a new town. Third, when new workers including students who graduate from high school, college or any higher degree program enter the workforce. They are looking for a job that fits their new skills and qualifications. The fourth reason is primary for youth unemployment. They have been living for a while to raise children, get married or take care of the elderly relatives when they are looking for work. Although it is unavoidable part of the job search process, frictional unemployment is usually voluntary and

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