Topic

Definition of unemployment:

Is the state in which a person is without work,available to work and is currently seeking work.

Causes of unemployment:

Defective investment systemTechnologycal PovertyDefective system of educationSlow progress of economic developmentHigh population growthAbsence of employment opportunities

Effects of unemployment

•Mentel stress•Loss of self esteem•Political issues•Crime and violence•Loss of skill usage•Suicide cases•Increase in poverty

Types of unemployment

Frictional unemployment:

Frictional unemployment, also called search unemployment, occurs when workers lose their current job and are in the process of finding another one.

Seasonal unemployment

Seasonal unemployment exists because certain industries only produce or distribute their products at certain times of the year.f0r example,farming,tourism and construction.

Structural unemployment

Structural unemployment occurs when certain industries decline because of long term changes in market conditions.

Regional unemployment

When structural unemployment affects local areas of an economy, it is called ‘regional’ unemployment.

Unemployment can be reduce byIncrease govt expendetureLower texationLower interest rateInvestment in worker trainning