Its not just people who don’t have a job anymore

What causes unemployment?http://www.youtube.com/watch?v=pVVk_NiQRls

http://www.youtube.com/watch?v=hwWGzQ_FUtQ

16-65 who are not working but are looking for a job.

Drop outs are people who have stopped looking for a job. Even if they could get a job they would not take it.

Retirees don’t count Full-time Students

don’t count Committed individuals

don’t count Incarcerated

individuals don’t count

http://www.youtube.com/watch?v=_CdTu1pk06w

http://www.youtube.com/watch?v=Ulu3SCAmeBA

Frictional Unemployment:o Unemployment caused

when people move from job to job and claim benefit in the meantime

Seasonal Unemployment: Unemployment caused because of the seasonal

nature of employment – tourism, skiing, cricketers, beach lifeguards,

Structural Unemployment: Unemployment caused as a result of the decline

of industries and the inability of former employees to move into jobs being created in new industrieso technology

When the structure of the economy changes to make jobs obsolete.

Technological Unemployment: Unemployment caused when developments in

technology replace human effort – tech. in manufacturing, administration

Cyclical Unemployment is unemployment caused by the fluxuations in the business cycle.

Ex- Layoffs during an economic slowdown or recession