Definition of Frictional Unemployment This is unemployment that occurs from the inevitable time delays in finding new employment in a free market. It may also be called ‘search unemployment’ as it relates to the time taken to search for new employment. For example, if you graduate from university, you can’t necessarily expect to find …
Readers question: explain benefits of increasing rate of unemployment benefit – for the unemployed , society and any cost that may result from such policy. Current Weekly Rates of Job Seekers Allowance in UK Contribution-based JSA Age JSA weekly amount 18 to 24 up to £57.90 25 or over up to £73.10 Contribution based …
Q2: Why are there millions of people unemployed even when the economy is booming? During periods of strong economic growth, we can often experience high rates of unemployment. Firstly, there may be structural unemployment. This occurs when the unemployed are unsuited or unable to fill job vacancies. For example, a booming economy may have a …
Readers Question: what is the difference between disguised unemployment and involuntary unemployment Definition of disguised unemployment. This is when people do not have productive full-time employment but are not counted in the official unemployment statistics. This may include: People with sickness/disability benefits (but, would be able to do some jobs) People doing part-time work. (sometimes …
Readers Question Why is the forward guidance threshold set at 7% unemployment and how does this affect the threshold for inflation? The MPC have a remit to target inflation of CPI = 2% +/-1. But, the MPC also consider wider issues of economic growth and unemployment. UK Real GDP is still lower than the level …
Readers Question: What policy strategy is good to reduce unemployment in Greece? The Greek economy is experiencing grave problems, with record levels of unemployment. Unemployment in Greece is running at 27.5% – (end of 2013) This unemployment rate is even higher amongst young people. The unemployment is primarily caused by the prolonged recession which has …
Readers Question: how we can reduce the unemployment (with implication ) in short run and long run and try to give some lively examples except of uk The unemployment rate in the UK is currently quite low about 4.5%. Therefore, it is difficult for the government to significantly reduce this. A lot of the unemployment …
A look at the relationship between inflation and unemployment and whether there is a trade off as suggested by Phillips Curve.