2. Unemployment
Essay
Introduction
Unemployment has become a major problem in
almost every society. The challenges posed by
unemployment are both social and economical in
nature. Under normal circumstances,
unemployment leads to despondency since a
section of society lacks ways of earning a living.
This affects not only the economic status of the
society but also the political and social aspects.
It is against this background that a lot of efforts
are put in place so as to address the issue of
unemployment. Job creation is one sure way of
ensuring that unemployment is under control.
3. This involves concerted efforts to bring about opportunities to work through
which income can be generated. However, unemployment is of different types,
and a better understanding of the same is crucial in the event of finding a
meaningful solution.
Furthermore, unemployment is caused by several factors which are responsible
for the whole situation. The aim of this paper is to navigate through the light
of unemployment, thoroughly analyzing the causes and types of the same.
4. What Is Unemployment?
Unemployment refers to a situation in which qualified people are seeking
employment but remain unemployed. This is primarily due to the scarcity of job
opportunities or other different causes. Unemployment, therefore, leads to a lack
of a source of income, thus affecting the economic condition of the society.
Unemployment takes different forms and shapes.
The condition of unemployment differs from society to society, depending on the
factors responsible for the situation. This brings out the fact that unemployment
does not occur in a uniform manner; it rather takes different forms depending on
the various forces in the social, economic, and political arenas.
5. UNEMPLOYMENT IS A
MAJOR PROBLEM THAT
NEEDS TO BE ADDRESSED.
HOWEVER, A BETTER
UNDERSTANDING OF THE
CAUSES AND TYPES OF
UNEMPLOYMENT IS
NECESSARY FOR THE
EVENT OF FINDING AN
APPROPRIATE SOLUTION
TO THE WHOLE SITUATION.
6. Types Of Unemployment
Unemployment occurs in different forms. Under normal circumstances, the
type of unemployment is denoted by the nature of factors that have brought
about the situation. As a result, unemployment is categorized by forces that
play a role in the creation of the situation
There are several types of unemployment that occur in different forms and are
brought about by different situations and circumstances.
7. The following are the types of Unemployment:
Cyclical
Unemployment
Seasonal
Unemployment
Frictional
Unemployment
Educated
Unemployment
Technical
Unemployment
Structural
Unemployment
Disguised
Unemployment
8. Disguised unemployment
refers to cases of
unemployment that are not
represented in the official
records of unemployment.
Seasonal unemployment, on
the other hand, refers to
those jobs that are seasonal
in nature.
Cyclical unemployment is a type of unemployment
which is related to the cyclical trends in the industry
or the business cycle.
An example of cyclical unemployment is when
construction workers were laid off during the Great
Recession following the financial crisis of 2008. With
the housing market struggling, construction of new
homes fell dramatically, leading to a rise in cyclical
unemployment for construction workers.
Explaining Each
Type of
Unemployment
9. Frictional, Educated, Structural and Technological Unemployment
Frictional unemployment is the result of voluntary employment transitions within an
economy. Frictional unemployment naturally occurs, even in a growing, stable economy.
Educated Unemployment: It is one of the most common unemployment seen in the urban
population. In this type of unemployment, a youth after matriculation, graduation, or
sometimes post-graduation could not be able to find any job for them
Structural unemployment is long-lasting unemployment that comes about due to shifts
in an economy. This type of unemployment happens because though jobs are available,
there's a mismatch between what companies need and what available workers offer.
Technological unemployment is the unemployment that results from the introduction of
new technology into the economy. It can be caused by the replacement of workers by
machines or the automation of tasks that were once done by workers.
10. Marxian theory of unemployment
According to Karl Marx, unemployment is inherent within the
unstable capitalist system and periodic crises of mass
unemployment are to be expected. He theorized that unemployment
was inevitable and even a necessary part of the capitalist system,
with recovery and regrowth also part of the process. According to
Marx, the only way to permanently eliminate unemployment would
be to abolish capitalism and the system of forced competition for
wages and then shift to a socialist or communist economic system
11. What Causes
Unemployment?
Unemployment is caused by many factors, and there is no single
factor that is responsible for unemployment. As a result, there are
many factors that combine to bring about a lack of opportunities
and the fact of qualified people remaining unemployed
The following are causes of unemployment;
Economic growth
Technology
Microeconomic policies
Constraints in economic growth
12. The Main Causes of Unemployment in Modern
Society
During the process of economic growth, there is a trend that follows; this normally
involves a decrease in employment opportunities. This automatically leads to a
rise in the levels of unemployment. Therefore, economic growth has a negative
effect on the rate of unemployment in the economy. Technology also leads to high
levels of unemployment; this is primarily due to the replacement of humans with
machines.
The role played by policies of microeconomic nature in the creation of
unemployment in society cannot be underestimated. These policies normally lead
to a sudden change in the economic environment making certain adjustments that
lead to unemployment.
13. Conclusion for
Unemployment
Essay
Unemployment is a serious issue for any economy.
It creates negative affects to unemployed as they
are jobless and suffer from worse prospects to
find a new job and those who are employed feel
less secure to keep their jobs in the future.
