EUROZONE UNEMPLOYMENT When RATES (JANUARY Unemploym 2013)30.00% ent occurs?25.00% Unemployment occurs when people are without20.00% work or actively seeking work.15.00% 26.40% [VALOR] It is caused when10.00% someone is laid off, get [VALOR] [VALOR] [VALOR] fired or quits…5.00%0.00% Greece Spain Portugal Slovakia Ireland Source: Trading Economics
OVER POPULATIONToo much population can increase unemployment, because governments are unableto create too much jobs at the same time.
FOREIGN PRODUCT COMPETITIONIf a foreign product is cheaper than a national product, most of the people will buy thecheaper one, so national companies will suffer and will need to fire people, due to lowdemand.
ECONOMIC INFLATIONWhen an economic inflation hits a country, many companies won’t be able to competewith other companies (most of them foreign) and will need to shut down their facilities.
ECONOMIC RECESSIONWhen an economic recession (or crisis) hits a country, many companies shut down theirfacilities, leading to dismissal a lot of people.
TECHNOLOGYMany companies only accept people with higher grades or specifications, due totecnology… Many people don’t have those specifications, so they can only aplly to jobs thataccept lower grades.