Employment, Macroeconomics

Assignment Help:

 

Employment 

Full employment of human and non-human resources or at least minimization of unemployment is an accepted goal of macroeconomic policy. Also the best way to alleviate poverty is to provide gainful employment to the poor.

The rate of unemployment is simply the fraction or percentage of workforce that has no gainful employment. Unfortunately there are several definitional and measurement problems. Who constitutes the labor force? One answer could be: all those who want to work. But some are not permitted by law to be employed. Some who are eligible would like to work but are not actively searching for employment. Some will accept employment only under certain conditions. All these difficulties render the definition of labor force itself problematic. Then again when is a person 'unemployed'? Some are partially employed, some get sporadic employment on daily basis, some have offers of employment but are waiting for a better offer, some are in transition from one job to another. 

Despite these difficulties statisticians and economists have devised fairly good measures for labor force and unemployment. To implement these measures and estimate unemployment is a tough task. We will examine it briefly later.

One must also keep in mind that unemployment has regional, temporal and occupational dimensions. A substantial overall rate of unemployment is quite compatible with shortages of labor with specific skills or in a particular region or at a particular time of the year. 


Related Discussions:- Employment

Theory of trade cycle, how the theories of trade cycle affects in the busin...

how the theories of trade cycle affects in the business

Determination of price level, P and Y are both endogenous variables and acc...

P and Y are both endogenous variables and according to the quantity theory of money we need P.Y = constant. If we divide both sides by P we get Y = constant / P. Because Y = Y D i

Price results in the efficient quantity, The Price ceiling is the law that ...

The Price ceiling is the law that sets a maximum price below the equilibrium market price, but a price floor is the law that sets a maximum price above the market equilibrium price

Taxes and government expenditures were constant, If taxes and government ex...

If taxes and government expenditures were constant and did not vary with income, then: A. passive deficits would increase. B. structural deficits would increase. C. passive deficit

Prices in the market, Who sets the prices in the market and what is the nat...

Who sets the prices in the market and what is the nature of competition? Is it buyer versus sellers or buyer versus buyers? What happens if the price is too high or too low? Is the

Deceased relative at zero prices, Kennesaw University Professor Frank A. Ad...

Kennesaw University Professor Frank A. Adams III and Auburn University Professors A. H. Barnett and David L. Kaser man recently estimated the effect of legalizing the sale of cadav

Institutional mechanisms for promotion of fdi, INSTITUTIONAL MECHANISMS FO...

INSTITUTIONAL MECHANISMS FOR  PROMOTION OF FDI: There is  increasing recognition that  understanding  'the forces of economic globalisation requires taking  a look  at  foreig

Construction of real gross domestic product, Q. Construction of real gross ...

Q. Construction of real gross domestic product ? To be able to make reasonable comparisons of GDP over time, we should adjust for inflation. For instance, if prices are doubled

Accounting profit-economic profit of present value, 1. Christopher has $200...

1. Christopher has $200,000 to invest, and he is considering the following business opportunity. He would use his $200,000 to buy a mechanical self-service car wash. He'll earn $40

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd