What is Unemployment? If you ask the dictionary what unemployment is you will come up with this definition: an economic condition marked by the fact that individuals actively seeking jobs remain jobless.
An unemployed person is someone who is involuntary out of work, looking for jobs and, at the same time, available to work.
Unemployment is usually expressed as a percentage of unemployed persons of the total available work force.
Economic conditions are the main factor influencing the level of unemployment, but let's not forget how economy is influenced by a whole range of other factors.
We all know what an important role is played by social factors, for example, in this economic game.
History of Unemployment Rate: One of the highest peak of the unemployment rate since World War II, 9.
7%, was reached in 1982 and extended through 1983 as a result of one of the most critical economic recession since the Great Depression of the 1930s (in 1933 the unemployment reached the highest rate in history, 25.
2%).
The economy became to improve little by little throughout the late 1980s and most of the 1990s and the unemployment rate dropped to 4.
5% by 1998 and to 4% in 2000, which was the lowest level in over three decades.
Then 9/11 happened and that was enough to cause unemployment to rise again, scoring 6% in June 2003, but then it started going down again.
By January 2008 it got as low as 4.
9%, but in 2008 the economic bubble collapsed causing millions to lose their jobs.
In October 2009 the unemployment rate surged to 10.
2 percent making it obvious that the nation is confronting the worst job crisis for the past 75 years.
In December 2010, the jobless rate fell to 9.
4 percent, but experts appreciate the exorbitant rate of unemployment will rise some more from the beginning of 2011.
What We Don't Like About Unemployment The main negative effect of unemployment is the inability of so many available workers to support their family or the economy.
It's not only the fact that people can no longer afford to buy the things they were used to, but rather the fact that many unemployed persons cannot support themselves and their families, are unable to pay the rent or mortgage and have no chance in finding a job that can accommodate their needs.
An unemployed person is someone who is involuntary out of work, looking for jobs and, at the same time, available to work.
Unemployment is usually expressed as a percentage of unemployed persons of the total available work force.
Economic conditions are the main factor influencing the level of unemployment, but let's not forget how economy is influenced by a whole range of other factors.
We all know what an important role is played by social factors, for example, in this economic game.
History of Unemployment Rate: One of the highest peak of the unemployment rate since World War II, 9.
7%, was reached in 1982 and extended through 1983 as a result of one of the most critical economic recession since the Great Depression of the 1930s (in 1933 the unemployment reached the highest rate in history, 25.
2%).
The economy became to improve little by little throughout the late 1980s and most of the 1990s and the unemployment rate dropped to 4.
5% by 1998 and to 4% in 2000, which was the lowest level in over three decades.
Then 9/11 happened and that was enough to cause unemployment to rise again, scoring 6% in June 2003, but then it started going down again.
By January 2008 it got as low as 4.
9%, but in 2008 the economic bubble collapsed causing millions to lose their jobs.
In October 2009 the unemployment rate surged to 10.
2 percent making it obvious that the nation is confronting the worst job crisis for the past 75 years.
In December 2010, the jobless rate fell to 9.
4 percent, but experts appreciate the exorbitant rate of unemployment will rise some more from the beginning of 2011.
What We Don't Like About Unemployment The main negative effect of unemployment is the inability of so many available workers to support their family or the economy.
It's not only the fact that people can no longer afford to buy the things they were used to, but rather the fact that many unemployed persons cannot support themselves and their families, are unable to pay the rent or mortgage and have no chance in finding a job that can accommodate their needs.
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