Unemployment occurs when people are without job and they have actively sought work within the past four weeks.
The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labour force.
Frictional unemployment: It is unemployment that comes from people moving between jobs, careers, and locations. Cyclical unemployment: It occurs when the unemployment rate moves in the opposite direction as the GDP growth rate. So when GDP growth is small (or negative) unemployment is high. Structural unemployment: It is a unemployment that comes from there being an absence of demand for the workers that are available.
Rapid changes in technology Recessions Inflation Disability Undulating business cycles Attitude towards employers Willingness to work Perception of employees Employee values
Unemployment level has an effect on the people who are employed as well. The employed sector feels insecure which may affect their productivity. Unemployment affects the society as this creates divisions, which eventually leads to the concept of ‘unequal opportunities seen more in underdeveloped and developing countries. Unemployment affects a person psychologically which can have many short term and long term problems.
Lack of Self Esteem and Confidence: - Money and success make you confident and a job is a synonym for these and a way to get these factors. When a person gets unemployed, his confidence reduces which leads to lack of interest. Stress: - It is a major factor and a certain after-effect of unemployment. The problem with stress is that it is directly proportional to the time of unemployment.
Loss of Enthusiasm and Willpower Issues: - "If you want to kill a man, take away his enthusiasm," goes a famous saying and this is what happens as a result of loss of employment. Enthusiasm and willpower are closely related as well. Ill-Health: - Stress is known to have physical effects on a human body and many unemployed individuals are known not to care for their health in this period which leads to a degrading level of health.
Harsh Effects and Suicidal Tendencies: - There is a considerable proof that suicidal tendencies are seen more in unemployed people. This may be due to the combined effects of the above factors.
I think that unemployment is one of the most important conflicts that are actually in the whole world. It’s something that must be solve in a few years, because unemployment causes many psycological and social effects in people of different countries.