Types Of Unemployment Essay

588 words - 2 pages

In industrialized countries in which most people can earn a living only byworking for others, being unable to find a job is a serious problem. Because of its humancosts in deprivation and a feeling of rejection and personal failure, the extent ofunemployment is widely used as a measure of workers' welfare. The proportion ofworkers unemployed also shows how well a nation's human resources are used and servesas an index of economic activity. Economists have described the types of unemploymentas frictional, structural, and cyclical.The first form of unemployment is Frictional unemployment. Frictionalunemployment arises because workers seeking jobs do not find them immediately. Whilelooking for work they are counted as unemployed. The amount of frictionalunemployment depends on the frequency with which workers change jobs and the time ittakes to find new ones. Job changes occur often in the United States. A January 1983survey showed that more than 25 percent of all workers had been with their currentemployers one year or less. About a quarter of those unemployed at any particular timeare employed one month later. This means that a considerable degree of unemploymentin the United States is frictional and lasts only a short time. This type of unemploymentcould be reduced somewhat by more efficient placement services. When workers are freeto quit their jobs, some frictional unemployment will always be present.The second form of Unemployment is structural unemployment. Structuralunemployment arises from an imbalance between the kinds of workers wanted byemployers and the kinds of workers looking for jobs. The imbalances may be caused byinadequacy in skills, location, or personal characteristics. Technological developments,necessitate new skills in many industries, leaving those workers who have outdated skillswithout a job. A plant in a declining industry may close down or move to another area,throwing...

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