UNEMPLOYMENT
Definiton The official unemployment rate is defined as the number of unemployed persons divided by the total labor force (the sum of unemployed and employed persons).
Facts From a survey taken in January of 2011, “about 7% of the world’s workforce is unemployed while 40% have stable jobs.” In 2010, the total number of people unemployed around the world was 205 million. It is important to know that many developing countries have fairly low unemployment rates because many of them are self- employed. The U.S. has an unemployment rate of around 10% China and about a dozen other countries are less than 5%
Unemployment rates around the world This is a great website to view the unemployment rates of all of the different countries around the world for the years database/economic-data/10297-worlds- unemployment-rates html#axzz1JFVnwXi1 database/economic-data/10297-worlds- unemployment-rates html#axzz1JFVnwXi1
2009 unemployment rates
What’s ahead… Even though it seems the economy for many countries seem to be getting better, it is still predicted and expected that unemployment rates will remain at record highs throughout the year 2011
Youth unemployment
Female Versus Male Unemployment Women in couples have higher employment rates than single women, and for both groups women without children are more likely to be in employment. Men unemploument rates are less than women because they have more workspace to be hired.
Unemployment benefits Unemployment benefits are payments made by the state or other authorized bodies to unemployed people.stateunemployed Unemployment benefits are generally given only to those registering as unemployed, that they seek work and do not currently have a job.
Advantages VS Disadvantage Advantages -Employment insurance helps prevent a recession by supplying people with money so they can spend it and help the economy. Disadvantage: -It gives people an incentive to stay unemployed. -It also puts a barrier to movement of labour. -Hence, either way it leads to a high unemployment rate.