 Its not just people who don’t have a job anymore What causes unemployment?

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Presentation transcript:

 Its not just people who don’t have a job anymore What causes unemployment?

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 who are not working but are looking for a job.

 Drop outs are people who have stopped looking for a job. Even if they could get a job they would not take it.  Retirees don’t count  Full-time Students don’t count  Committed individuals don’t count  Incarcerated individuals don’t count

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 Frictional Unemployment: o Unemployment caused when people move from job to job and claim benefit in the meantime

 Seasonal Unemployment:  Unemployment caused because of the seasonal nature of employment – tourism, skiing, cricketers, beach lifeguards,

 Structural Unemployment:  Unemployment caused as a result of the decline of industries and the inability of former employees to move into jobs being created in new industries o technology  When the structure of the economy changes to make jobs obsolete.

 Technological Unemployment:  Unemployment caused when developments in technology replace human effort – tech. in manufacturing, administration

 Cyclical Unemployment is unemployment caused by the fluxuations in the business cycle.  Ex- Layoffs during an economic slowdown or recession