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Unemployment Essay

678 words - 3 pages

Unemployment

In compiling unemployment statistics for the United States and other developed countries an unemployed person is defined as anyone who is capable of working and is actively seeking work but is unable to find a job.1Before a person can be unemployed in this sense he must be an active member of the labor force in search of a job. Students and Homemakers perform work, but they are not considered employed unless they are paid; however, they are not considered unemployed unless they are actively seeking gainful jobs.

In societies in which a majority of the citizens are able to earn a living by working for others, being unable to locate and obtain a job is a very serious ...view middle of the document...

People who are simply between jobs, in this sense, are said to be frictionally unemployed. The amount of frictional unemployment depends on the frequency with which workers change jobs and the time it takes to find new ones.4 This is a particularly important category, since this category of unemployment can never be eliminated or reduced to zero. Even in the best functioning market economy, there will be some people who are between jobs. However, I think this type of unemployment could be reduced somewhat by more efficient placement services. The second form of unemployment is structural unemployment. Structural unemployment arises from an imbalance between the kinds of workers wanted by employers and the kinds of workers looking for jobs. The imbalances may be caused by inadequacy of skills, location, or personal characteristics.5 Technological developments necessitate new skills in many industries, leaving those workers who have outdated skills without a job. A plant in a declining...

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