Category: Unemployment
Unemployment Types
This paper discusses the different types of unemployment and its implications on the economy as a whole. In the following section we have detailed about the five different types of unemployment.
Unemployment and Poverty
Unemployment and Poverty at a Glance
Unemployment and poverty are the two major challenges that are facing the world economy at present. Unemployment leads to financial crisis and reduces the overall purchasing capacity of a nation. This in turn results in poverty followed by increasing burden of debt. Now, poverty can be described in several ways. As per the World Bank definition, poverty implies a financial condition where people are unable to maintain the minimum standard of living.
Causes Of Unemployment
In the set up of a modern market economy, there are many factors, which contribute to unemployment. Causes of unemployment are varied and it may be due to the following factors:
File For Unemployment
To receive unemployment benefits, an individual is required to file for unemployment by registering with a regional unemployment agency.
Who can file For Unemployment?
Unemployment can be filed by individuals who:
- Are laid-off due to scarcity of work
- Are physically and mentally fit for employment and actively seeking a job
Unemployment in Different Countries
Almost all the countries, irrespective of developed or developing or underdeveloped, in the world are suffering from unemployment.. Different countries have different types of unemployment. The rate of unemployment is low in the developed countries compared to the developing and the underdeveloped ones. Here, we will discuss about the unemployment situation in some countries.
