Economics Unemployment, Its Causes and Types.pptx

Sociology

1. Economics: Unemployment, Its Causes and Types Project by: Arban Thaci Subject: Sociology

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:

8.    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 Une mployment? 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.