Unemployment by shanilahori

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									Unemployment

Unemployment occurs when a person is available to work and currently
seeking work, but the person is without work.The prevalence of
unemployment is usually measured using the unemployment rate, which is
defined as the percentage of those in the labor force who are unemployed.

There are a variety of different causes of unemployment, and disagreement
on which causes are most important.Different countries suggest different
policies to address unemployment. Monetarists for example, believe that
controlling inflation to facilitate growth and investment is more
important, and will lead to increased employment in the long run.
Keynesians on the other hand emphasize the smoothing out of business
cycles by manipulating aggregate demand. There is also disagreement on
how exactly to measure unemployment. Different countries experience
different levels of unemployment.

Measurement

Though many people care about the number of unemployed, economists
typically focus on the unemployment rate. This corrects for the normal
increase in the number of people employed due to increases in population
and increases in the labor force relative to the population. The
unemployment rate is expressed as a percentage, and is calculated as
follows:



Unemployment Rate=Unemployed Workers\Total Labor Force

As defined by the International Labour Organization, "unemployed workers"
are those who are currently not working but are willing and able to work
for pay, currently available to work, and have actively searched for
work.

								
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