Unemployment Assignment Solutions

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Unemployment Assignment Solutions

Unemployment Homework Solutions to Solve All the Queries for the Students

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What is the concept of unemployment and what are the different types of unemployment?

The concept of unemployment can be traced back to the earlier times where people were devoid of their jobs. Unemployment can be defined as a basic problem of the whole economy. It occurs when a person is looking out for jobs or actively searching for employment purpose.

Unemployment or the theory of unemployment can be divided into various categories. There are basically two common types of unemployment which are broadly classified into voluntary and involuntary unemployment. When a person is voluntarily unemployed that means that the person has willfully left their job with their own choice. Involuntary unemployment can be said that a person has been fired from their job without their personal consent.

There are other types of unemployment which are defined into various categories.

  • Cyclical unemployment

It comes around when people are unemployed at various times of the year. This type of unemployment rises during the recessionary period and declines during the growth of the economy.

  • Frictional unemployment

It is caused when a person is stuck between the choices of choosing between two different jobs. After a person is fired from a company, it takes them gradual time to find another one. The gap between finding one job by leaving the previous one is called the frictional unemployment.

  • Structural unemployment

These are caused when people are fired or lose their jobs due to the outdated technical skills they produce in their working fields.

What are the different impacts caused by the happenings of unemployment?

Unemployment is a big issue which is faced by the whole economy. Here are some of the few impacts or effects of unemployment that can be followed through the following points.

  • It causes a moral impact on all the people who are unemployed. Unemployment can be a negative moral for the people’s mind and can reduce their activity and their confidence as a whole.
  • The government and the whole nation suffer as a whole. In many ways, the government has to pay the whole unemployed group of people the benefit of cash. The longer these groups remain unemployed, the shorter the money income is caused.
  • The spending power of the whole groups of these unemployed people is reduced. They have to cut their costs and spend less on the luxuries instead of the necessaries.
  • With the increase in the rate of the unemployment, there is also an increase in the rate of the recession in the economy. The economic factors are also affected by the income per person as well as the health costs or the standards of living.
  • Tension at home is increased with the causes of unemployment. Health diseases also become a major factor in this. It is generally seen that cases of divorce and arguments have gradually started with the causes of unemployment.
  • The mental health of the unemployed is also a serious concern to look out for. Low self-esteem is counted to be a part of this unemployment thread. Many of the unemployed people develop a negative attitude towards the whole community and common things.

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