Unemployment Assignment Answers
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Welcome to myhomeworkhelp.com, a perfect place to get solutions to all your homework problems, including unemployment assignment answers. Unemployment is an important concept in economics, which is why students frequently get assignments and homework on the topic. Whenever the employment levels are below the maximum possible, the economy is said to be experiencing unemployment. If you need some assistance in completing your assignment or homework on this topic, you can always choose to hire our services.
Defining unemployment
The phenomenon occurring when a person who is capable of working, is willing and is of the required age cannot find a job. An economy’s health is often measured through unemployment. Unemployment rate is the most common measure of unemployment. Unemployment rate is ratio between the number of unemployed individuals and the number of individuals in labour force.
Only knowing the definition is enough to write your unemployment assignment answers. For that, you are required to gain a deeper understanding of the concept and go more into details. This is because assignments usually require you to explain in details. Our experts can certainly help you with that. If you want a detailed explanation of the topic, with all the important points well explained, you won’t get a better online homework help service than the one you would get with us.
Categories of unemployment
The unemployment definition is quite clear enough as it seems. However, economists usually divide unemployment into various different categories. Two of the broadest categories are involuntary and voluntary unemployment. In case of voluntary unemployment, the concerned person has willingly left his job in pursuit of other employment opportunities. With involuntary unemployment, the person has been laid off or fired, which means he has to now search for other job.
While involuntary and voluntary unemployment are two broad categories, you would want to know about its sub categories for your unemployment homework answers, which include:
- Frictional unemployment:
This is generally a short term form of unemployment as this arises when a person has recently left a job and is searching for another one. From economic point of view, this type isn’t that troubling.
- Structural unemployment:
In this case, jobs are lost because of the outdated skills of the people. Thus, advances in technology is a major cause of this form of unemployment
- Cyclical unemployment:
This form arises because of business cycle. Firms might want to down size during recession for cutting costs and/or maintaining profits. Such form of unemployment increases during periods of recession and decreases during economic growth period.
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