Unemployment
- Submitted by: cborggrebe
- Views: 412
- Category: Politics: Economics
- Date Submitted: 04/21/2013 04:13 PM
- Pages: 3
- Report this Essay
Borggrebe, Christina
Rayl
English CP
Unemployment
Today, "...unemployment reaches up to 7.9%." (Rampell, 2013, para. 1) Many people are suffering from our countries long recession, even though "The Bureau of Labor Statistics, which calculates the jobless rates, says the economy created 157,000 jobs in January, slightly more in December, but the total number of unemployed people remain at 12.3 million." (Maze, 1) Although, the government does help with people that are struggling trying to find a job, or physically or mentally can't handle a stable job. This is called unemployment insurance, and this provides workers, who are unemployed through no fault of their own, with monetary payments for a specific period of time or until the worker finds a new job. The causes of unemployment can vary in a wide range: disability, recessions, rapid changes in the technology, inflation and much more. There are five types of unemployment, frictional, structural, classical, seasonal, and cyclical.
One type of unemployment is frictional is when workers leave their jobs to find better ones:" It's usually thought of as a voluntary exit, but can also occur as a result of a layoff or termination with cause." (Amadeo, 2013, para. 1) The time, effort and expense it takes to find these new jobs is known as friction. It occurs because workers need to find out about possible new job opportunities, go on interviews and possibly move before starting their new jobs. It's an unavoidable part of the job search process. However, the good news is that it's usually short-term. Some reasons why frictional unemployment occurs is when a recession happens and jobs start to lay their employees off. "Some common examples include college graduates seeking their first jobs, craftspeople who are laid off between projects, and people who quit their jobs to relocate or to seek out better employment." (Conjecture Corporation, 1) As stated in Kimberly Amadeo's article "Frictional unemployment can be...
Rayl
English CP
Unemployment
Today, "...unemployment reaches up to 7.9%." (Rampell, 2013, para. 1) Many people are suffering from our countries long recession, even though "The Bureau of Labor Statistics, which calculates the jobless rates, says the economy created 157,000 jobs in January, slightly more in December, but the total number of unemployed people remain at 12.3 million." (Maze, 1) Although, the government does help with people that are struggling trying to find a job, or physically or mentally can't handle a stable job. This is called unemployment insurance, and this provides workers, who are unemployed through no fault of their own, with monetary payments for a specific period of time or until the worker finds a new job. The causes of unemployment can vary in a wide range: disability, recessions, rapid changes in the technology, inflation and much more. There are five types of unemployment, frictional, structural, classical, seasonal, and cyclical.
One type of unemployment is frictional is when workers leave their jobs to find better ones:" It's usually thought of as a voluntary exit, but can also occur as a result of a layoff or termination with cause." (Amadeo, 2013, para. 1) The time, effort and expense it takes to find these new jobs is known as friction. It occurs because workers need to find out about possible new job opportunities, go on interviews and possibly move before starting their new jobs. It's an unavoidable part of the job search process. However, the good news is that it's usually short-term. Some reasons why frictional unemployment occurs is when a recession happens and jobs start to lay their employees off. "Some common examples include college graduates seeking their first jobs, craftspeople who are laid off between projects, and people who quit their jobs to relocate or to seek out better employment." (Conjecture Corporation, 1) As stated in Kimberly Amadeo's article "Frictional unemployment can be...