2. Classification of unemployment - By the source of unemployment: + Temporary unemployment: when there are some workers during job search or in better work- place, consistent with your desire. + Structural Unemployment: occur when there are imbalances between the supply and demand of the labor market (between the trades, regions…). This type is associated with the volatility of the economic structure and the ability to adjust the supply of the labor market. When this labor is strong-stretching, unemployment becomes severe and prolonged.
Structure of Vietnam’s unemployment 1. Introduction: Unemployment is a controversial social economic issue that all countries has to deal with, and such a developing country like Vietnam is not an exception to this. Labor is one of main inputs in production process and unemployment is synonymous with the waste of resources. Unemployment also impacts to poverty and inequality problems of economic development. Moreover unemployment is one of main factor in determining how healthy an economy is.
The degree of unemployment in a nation indicates the economic health of the country. Unemployment rate is used to measure the mess to take full advantages of labour resources because it signifies the percentage of labour force that is unemployed but are willing and actively seeking for work. Unemployment rate provides a precise measurement which was assured by The Bureau of Labour Statistics. However, there are several factors that affect the unemployment rate in a nation such as company downsizing, merger or acquisition, changes in technology and foreign competition, and job outsourcing to other nations. Long term unemployment creates a very large amount of cost for an individual and economy as a whole.
Introduction Unemployment and inflation are key components which can cripple the growth of a country, causing a negative impact on a countries’ economic activities. An ideal economy is where there is low unemployment and low inflation rates in a country. However, such economical balance is not always consistent, thus affecting the stability of the economy. One of the key functions of a government is being a solution provider and create a safety net with visionary leadership skills for the people to overcome the economic crisis. In such circumstances, both government and the people have to work together in implementing demand side policies comprising both expansionary and contractionary fiscal and monetary policies which would help to stimulate
The macro section of Neoclassical Economics theory, in summary, states that the sole purpose of migration pertains to the exceptional imbalance in labor supply, labor demand, which leads to wage differentials in different countries. As a result, workers from low wage countries tend to move to high wage countries, which ultimately leads to the micro section of this theory. Moreover, people act as individuals to make rational choices based on their expectations of the cost and benefits that migrating will produce (Notes 1/22). Individuals perceive migration, according to this section of the theory, to be an investment in human capital. Migration has a tendency to influence where they can be the most productive and have a positive net return.
Theoretical Framework This study is built on two theoretical assumptions namely; the refugee effect and Schumpeter effect of unemployment and entrepreneurship. The Refugee Effect The refugee effect as a theoretical stance stems from the effort to deflate unemployment phenomena among people through entrepreneurship activity. This theoretical assumption can be traced back to the work of Oxenfeldt (1943), who submitted that people who are challenged with unemployment and low prospects for securing wage employment frequently move to self-employment as a workable alternative. This thought was also found in Knight’s view that individuals are bound to make decision within three states – unemployment, self-employment and employment. The simple theory
Unemployment is universally recognized as a bad thing. While economists and academics make convincing arguments that there is a certain natural level of unemployment that cannot be erased, elevated unemployment imposes significant costs on the individual, the society and the country. Worse yet, most of the costs are of the dead loss variety where there are no offsetting gains to the costs that everyone must bear (Depending on how it 's measured). Unemployment represents the number of people in the work force who want to work but do not have a job. It is generally stated as a percentage and calculated by dividing the number of people who are unemployed by the total work force.
This kinds of social costs embraced as the result of the irresistible demand for economic growth, by sometimes sacrificing both the workers and the environment. The economic theorist called it as the concept of negative externalities (Barca, 2012), which entrepreneurs change the real cost of human and environmental health and safety into the third parties. Kapp ideas on the social cost and the natural behavior of entrepreneur enhanced as the fundamental of the upcoming theory, named as Ecological Economics. It is considered as the radical non-orthodox discipline because of it declining the idea which unlimited economic growth were the only possible answer for poverty (Barca, 2012). However, Salleh (Salleh, 2010) stated that the cost of production for industrial and Meta-industrial workers along with the public health is not highly as the main concern of ecological economist.
The underlying driver of India’s backwardness lies in the underutilization and confusion of the nation’s resources. Management is also important in an organization for the following reasons: 1) Encourages team work 2) Improves the employer and employee relationship 3) Encourages innovation 4) Optimum use of resources 5) Providing managers with useful insight into reality 6) Helps in achieving group goals 7) Increases
This is because, private sectors functions as a major tools for the growth of Malaysian economy, (Ragayah, 2008). According to Xavier, & Ahmad, (2011), as a developing country Malaysia is not capable to compete with high value-added economies. The progress of Malaysia is far behind in research and development compared to its rivals. Although many economic policies have been taken, yet income inequality still gets broader. The author criticizes that this can be due to wage growth that has not been maintained together with the economy growth in Malaysia.