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(the ‘un-employment rate’ is a measure of the prevalence of ‘unemployment’ and it is calculated as a ‘percentage’ by dividing the ‘# of unemployed individuals’ by all individuals currently in the ‘labor force’)
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(during periods of ‘recession’, an economy usually experiences a relatively high ‘unemployment rate’)
(according to an ‘International Labour Organization’ report, more than 200 million people globally or 6% of the world’s ‘workforce’ were without a job in 2012)
(what constitutes a ‘job’?)
(registry with the IRS?)
(how about “under-the-table” jobs?)
(“technically illegal”)
(but how ‘truly illegal?)
(does it warrant a ‘wink’? before looking the other way)
(i’d never rat…)
(there remains considerable theoretical debate regarding the ’causes’, ‘consequences’, and ‘solutions’ for ‘unemployment’)
(‘classical economics’, ‘new classical economics’, and the ‘Austrian School’ of ‘economics’ argue that ‘market mechanisms’ are reliable means of resolving ‘unemployment’)
(“resolving?”)
(“or DECREASING ‘unemployment rate'”)
(these theories argue against interventions imposed on the ‘labor market’ from the outside such, as ‘unionization’, ‘bureaucratic work rules’, ‘minimum wage laws’, ‘taxes’, and other ‘regulations’ that they claim discourage the hiring of workers)
(‘keynesian economics’ emphasizes the cyclical nature of ‘unemployment’ and recommends ‘government interventions’ in the economy that it claims will reduce ‘unemployment’ during ‘recessions’)
(this theory focuses on recurrent ‘shocks’ that suddenly reduce ‘aggregate demand’ for ‘goods’ and ‘services’ and thus reduce demand for ‘workers’)
(‘keynesian models’ recommend ‘government interventions’ designed to increase demand for workers; these can include ‘financial stimuli’, ‘publicly funded job creation’, and ‘expansionist monetary policies’)
(its namesake economist ‘John Maynard Keynes’, believed that the root cause of ‘unemployment’ is the desire of ‘investors’ to receive more ‘money’ rather than produce more ‘products’, which is not possible without ‘public bodies’ producing new ‘money’)
(in addition to these comprehensive theories of ‘unemployment’, there are a few categorizations of ‘unemployment’ that are used to more precisely model the effects of unemployment within the ‘economic system’)
(the main types of ‘unemployment’ include ‘structural unemployment’ which focuses on structural problems in the economy and inefficiencies inherent in ‘labour markets’, including a mismatch between the supply and demand of laborers with necessary skill sets)
(is there really a ‘job’ for everyone in our modern economy?)
(is that even possible?)
(‘structural’ arguments emphasize causes and solutions related to ‘disruptive technologies’ and ‘globalization’)
(discussions of ‘frictional unemployment’ focus on voluntary decisions to work based on each individuals’ valuation of their own work and how that compares to current ‘wage rates’ plus the time and effort required to find a job)
(causes and solutions for ‘frictional unemployment’ often address ‘job entry threshold’ and ‘wage rates’)
(‘behavioral economists/ highlight individual biases in ‘decision making’, and often involve problems and solutions concerning ‘sticky wages’ and ‘efficiency wages’)
(for centuries, experts have predicted that ‘machines’ would make workers obsolete and increase ‘unemployment’)
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💕💝💖💓🖤💙🖤💙🖤💙🖤❤️💚💛🧡❣️💞💔💘❣️🧡💛💚❤️🖤💜🖤💙🖤💙🖤💗💖💝💘
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*🌈✨ *TABLE OF CONTENTS* ✨🌷*
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🔥🔥🔥🔥🔥🔥*we won the war* 🔥🔥🔥🔥🔥🔥