WhatsApp us

my homework help logo
Profile Image
Chat with support

Unemployment and Full Employment

Need a hand with your homework? Get expert help now and smash those grades! ๐Ÿ’ฏ Submit your assignment today!

100% human expertise, no AI. ๐Ÿค–

  • ๎ฒExperienced Tutors
  • ๏€—On-Time Delivery
  • ๏”Plagiarism-Free Work
myhomeworkhelp reviews
Order Homework Help From Experts
Please enable JavaScript in your browser to complete this form.
Please enter the details of your homework requirements.
What should we call you?
Zero spam guarantee.
For order updates only.

Hire Best Homework Helpers

MyHomeworkHelp is proud to work with a team of expert professionals with verified academic credentials, selected for their proven skills in their field of study.

Confidently hire experts from the top universities across the globe.

Benefits & Assurances

subjects covered

All Subjects Covered

subjects covered

Refund Guarantee

subjects covered

Experienced Tutors

subjects covered

Unlimited Revisions

subjects covered

On Time Delivery

subjects covered

Chat With Expert

Unemployment is the condition where a person is searching for job. It is due to changes in economy which is changes in friction and cycles.

Case of frictional unemployment

People all over the world are continuously moving either in or out from the labor force because of the different situations they may be facing in life. The process of finding a new job after completing school, shifting to a better paying option, retirement etc all are seen in the scenario. Jobs are continuously created and destroyed in this process. New companies are established in the market, some are closed with time and some plan for the expansion process and all these things are a routine in economy.

The people search for the best available opportunities and the businesses are also looking for the best workers, and both of them are willing to wait till the best alternative comes to them. In this process there is a time lag in between till one can find the best available opportunity and it leads to frictional unemployment.

The reason why frictional unemployment occurs is because of the fact there is a certain time gap when the people are continuously either moving in or out from labor force and also through the process of job creation and its destruction. Thus one can regard frictional unemploymenta normal part and parcel of a nation that is evolving over a period of time.

Case of structural unemployment

It is that unemployment that occurs when the changes occur on the level of technology or there is change in skills required to complete the jobs seeing the scenario of competition at international level or when location becomes a barrier for doing work. In this case the unemployment scene will last much longer when compared to the frictional case of unemployment where workers have to be trained again as per the new skill requirement and latest technology and if location is a barrier then they will have to relocate to a new place to find job. For example automation in a sector will lead to fewer requirements for labor and whereas some sectors may get created where new labor may be required. But this process of learning new skills and technology, moving to other jobs or in some cases relocating to other location takes a lot of time. It is a very difficult case mostly for the older people because they find it difficult to adapt to latest skills and technology and also find relocation as a challenging task. Thus many times it seen that they opt for either retirement or go for low paying jobs.

Case of cyclical unemployment

Cyclical unemployment arises due to recession. Thus when a worker loses a job when such economy is facing recession then it can be attributed to cyclical changes. He may get a job after few months when process of expansion will start but till then he will be cyclically unemployed.

Case of natural unemployment

It is that case when the structural and frictional changes are combined together resulting in unemployment. But here the case of cyclical unemployment is excluded. Natural unemployment rate is expressed in the way of natural unemployment as a percentage of labor force.

Case of full employment

When the rate of natural unemployment is same as the unemployment rate, it is the case of full employment.

How rate ofnatural unemployment is determined?

Will it be the same or will it vary with time period?

There are various factors influencing rate of natural unemployment and these are-

  • The population age distribution pattern.
  • The level of changes on the structural front.
  • Wage rates that are real.
  • Benefits related to unemployment.

Population age distribution

If the young population will be more in an economy then they will automatically seek new jobs every year and thus frictional unemployment will be more. But in an economyif most of the population is old and there is not much demand for new jobs per year then the frictional unemployment will be less.

Structural change scale

Mostly the structural changes are small where a little up gradation of skills and technology is seen but when the technology is completely altered then a large number of workforces can lose their jobs. Thus the scale of structural in case of unemployment will be dependent upon how much technological change has occurred and what new skills are to be adapted to face international competition.

Rate of real wage

Rate of real weight helps in the determination of unemployment rate on natural basis. Real wage rates which lead to unemployment are the efficiency wage and a minimum level wage. Talking about efficiency wage it is that level of wage that is higher than the market wage rate by which the firms obtain workers and engage them for productive activities and avoid their quitting.

The unemployment benefits

Such benefits will raise the rate of natural unemployment because opportunity cost in case of searching of job will be lowered. As compared to US the European nations have more liberal benefits in terms of unemployment and greater rates for natural unemployment. More and more benefits related to unemployment will raise the rate for natural unemployment.

Rate of natural unemployment do exists and it changes also but its exact proportion and change level is still a difficult evaluation for economists. As per Congress budget estimates for the year 2010 rateof natural unemployment was around 4.8%, that was half of unemployment which in the same year.

Unemployment over the cycle and real GDP

The potential GDP is depicted by the real GDPquantityat the level of full employment. Real GDP will fluctuate around the potential GDP over the cycle of business. Thus the output gap is the difference between the potential GDP along with GDP in real nature.ย  Due to the fluctuation of output gap during business cycle then in this casethe rate of unemployment will also fluctuate around the rate of natural unemployment.

In diagram 5.5 the various fluctuations are shown. These are for the year 1980 to 2010 for US. Part a shows the gap in output and part b shows the rate of unemployment and the rate of natural unemployment. During full employment stage, natural unemployment rate and unemployment rate are same and thus the potential and real GDP are also equal with each other, thus making output gap to be zero. But if the natural unemployment rate is greater than the unemployment rate, then real GDP will be more than potential rate of GDP, leading to positive output gap. But when the situation will be reversed then real GDP will be lower as compared to potential GDP contributing to a negative output gap. Diagram 5.5 part b depicts the rate of natural unemployment as per the budget office of Congress.

Here one can note that the rate of natural unemployment is 6.2% in the year 1980 and continuously it fell and reached 4.8% in 2000. Many economists agree with this rate but still there are ones who disagree with it.

Next you will see that how the rate of inflation and level of price is monitored. You will get to know that how CPI which is consumer price index is evaluated on monthly basis. It will also help understand about the other aspects related with the rates of inflation and levels of prices.

 

Links of Previous Main Topic:-

Links of Previous Main Topic:-

Your Price: $15.00 $13.99 ๐Ÿ”ฅ

Pricing may change based on requirements

Get Homework Help In

๏š˜

Maths and Statistics

๎€Š

Science

๎‚†

Humanities & Arts

l

Essay Writing

How Our Homework Service Works

FAQ number 1

Share your requirements

FAQ number 2

Make secure payment

FAQ number 3

Get homework answers

FAQ - Our Homework Help Services

We have put together some commonly asked questions.

K
L

Is there a website that can do my homework?

Yes, if you are looking for such a site, MyHomeworkHelp is one of the leading homework help websites that can do your homework and assist with various academic needs. Here's all you need to know about our team and how they provide flawless homework help.

If you find yourself thinking, "I need to pay someone to do my homework," our team is ready to assist. It's common for students to seek help with their homework, and our experts are prepared to provide personalized support tailored to your needs.

You can visit www.myhomeworkhelp.com to get all types of homework-related help from our experts.

K
L

What is the best homework help website?

The best homework help website enhances students' experience of getting homework assistance from experts. MyHomeworkHelp, recognized as one of the best online homework help platforms, serves as both a guide and a solution provider for students. We've been rocking the homework help scene since 2012, assisting over 20k students, and we must be doing something right because more than 70% of them keep coming back for more. Whether you need help understanding concepts, completing assignments, or getting your homework done, MyHomeworkHelp is here to support your academic journey as the best college homework website.

K
L

How can I get help with my homework?

1. Tell us your homework details

To get started with online homework help, simply choose the type of homework assistance you need. When filling out the order form, make sure to provide detailed instructions, including the deadline, number of pages, grading rubric, and any other relevant information.

2. Confirm your order

Review the details of your homework order and proceed to make a secure payment using VISA, Mastercard, or PayPal. Once the payment is processed, our experts will begin working on your homework immediately.

3. Receive your order

The completed homework will be delivered directly to your email. This ensures that students receive their homework assistance on time and can meet their academic requirements without stress.

K
L

Do you guarantee plagiarism-free homework answers?

We take academic integrity very seriously and understand the importance of providing homework answers free of plagiarism. Our tutors are committed to delivering original and unique content for every assignment. Here are the steps we take to ensure your homework is plagiarism-free:

  1. Original Work: Each assignment is completed from scratch based on your specific requirements and guidelines.
  2. Expert Tutors: Our tutors are highly qualified and experienced in their respective fields, ensuring the work they produce is both original and high-quality.
  3. Plagiarism Detection: We use advanced plagiarism detection software to scan every assignment before delivery. This ensures that the content is unique and free of any copied material.
  4. No AI Usage: We guarantee that all work is 100% human-crafted expertise, with no AI-generated content involved. This ensures the authenticity and quality of the work provided.
  5. Quality Assurance: Our quality assurance team reviews each assignment for originality and adherence to academic standards before it is sent to you.

By following these stringent measures, we guarantee that the homework answers you receive are completely free of plagiarism and AI involvement. You can trust us to provide you with original and high-quality academic assistance.

For more information on our guarantees, please visit our guarantees page.

K
L

Is your homework service confidential?

Absolutely! Confidentiality is one of the basic guarantees of our service at MyHomeworkHelp.com.

When our customers make their homework orders, they know their information remains 100% confidential.

Even your homework writer will not be provided with your personal details. So, when you hire a professional homework helper on our website, rest assured that your information will remain private and safe.

For a comprehensive understanding of how we protect your privacy, please refer to our Privacy Policy.

K
L

How much do I need to pay to get my homework done?

We do not have monthly fees or minimum payments for our services. Each homework assignment is quoted a unique price, based on the tutorโ€™s estimate of the time required to complete your work. There are no obligations, and you are free to discuss the price quote with the tutor.

When you decide to pay someone to do my homework, our pricing starts at $13.99 per page. The final pricing depends on various factors including the page count, deadline, nature of the task, and the homework writerโ€™s level of expertise.

We offer flexible payment options, allowing you to make a partial payment to start working on your assignment and pay the remaining amount upon completion. This ensures no pressure of up-front payment and no hidden order costs.

Our dynamic pricing model takes into account the type of assignment, its urgency, and the complexity of the task. For instance, shorter deadlines and more complex assignments may increase the price. You can get an instant quote by selecting your assignment type, deadline, and page count on our website.

Get the help with your homework at competitive rates, tailored to your specific needs and deadlines. For more detailed information on pricing, please visit our pricing page.

K
L

Who are the experts who will help me with my homework?

We work with subject experts from all over the world. We hire them with the help of complex tests in the disciplines of their expertise. We also verify the IDs and academic transcripts of our homework writers to be sure that our experts have a bachelor's or masterโ€™s or a PhD degree. This is how we can be sure of the proficiency of our panel of experts who will help you with your homework. Here's all you need to know about our team and how they provide flawless homework help.

  1. Our team comprises top-tier homework helpers who excel in addressing and resolving questions on various topics. Each tutor effectively utilizes their expertise to concentrate on the core subject matter and thoroughly analyze it.
  2. Our professional tutors specifically craft each assignment tailored to students' requirements, including preferred formats, citation styles, and essential elements.
  3. Whether itโ€™s coursework, dissertations, essays, or case studies, our platform guarantees timely college homework help across a wide range of academic papers. Donโ€™t hesitate any longer; connect with our tutors when you seek help with your homework for perfect assignment solutions and improved grades.

K
L

Can I chat with my homework helper for updates?

Yes, you can certainly chat with your homework helper on our secure chatboard platform. MyHomeworkHelp.com provides a direct communication channel between you and your assigned expert (while maintaining privacy). This feature allows you to ask questions, clarify instructions, and provide additional information about your homework order to ensure that the help you receive is tailored to your specific needs.

You'll be notified by email whenever there are new messages for you, but we advise regularly checking your personal page to ensure no critical updates from your writer are overlooked.

Should you have an urgent matter to address, do not hesitate to contact the support team for assistance. This system ensures that students can stay updated on their homework paper progress and maintain clear communication with their experts.

K
L

What makes you the best homework helper?

MyHomeworkHelp is ranked as one of the best online homework helpers, providing exceptional support to students. We've been excelling in the homework assistance arena since 2012, assisting over 200k students, and consistently achieving high satisfaction rates, with more than 70% of our students returning for additional help. But do not take our word for it! See our independent reviews on google, facebook, sitejabber, and on Trustpilot. For all collated reviews, see here

We ensure our prices remain competitive and offer attractive discounts to make our services accessible. Our commitment to delivering plagiarism-free solutions guarantees the integrity and originality of your assignments. These attributes, combined with our dedication to personalized support and timely delivery, establish MyHomeworkHelp as the premier homework helper for all your academic needs.

K
L

How will I receive my homework order?

You'll receive the initial version of your paper as a secure, non-editable PDF within your specified deadline. This allows you to review the content and decide if any revisions or edits are required. Our homework service will refine the homework paper based on your feedback.

Should the document meet your expectations and not require any changes, you can simply approve the order and access the editable Word .doc file.