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Unemployment

Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15)[2] not being in paid employment or self-employment but currently available for work during the reference period.[3]

For payments tax paid to unemployed people, see Unemployment benefits.

Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force (the total number of people employed added to those unemployed).[3]


Unemployment can have many sources, such as the following:


Unemployment and the status of the economy can be influenced by a country through, for example, fiscal policy. Furthermore, the monetary authority of a country, such as the central bank, can influence the availability and cost for money through its monetary policy.


In addition to theories of unemployment, a few categorisations of unemployment are used for more precisely modelling the effects of unemployment within the economic system. Some of the main types of unemployment include structural unemployment, frictional unemployment, cyclical unemployment, involuntary unemployment and classical unemployment.[4] Structural unemployment focuses on foundational problems in the economy and inefficiencies inherent in labor markets, including a mismatch between the supply and demand of laborers with necessary skill sets. Structural arguments emphasize causes and solutions related to disruptive technologies and globalization. Discussions of frictional unemployment focus on voluntary decisions to work based on individuals' valuation of their own work and how that compares to current wage rates added to the time and effort required to find a job. Causes and solutions for frictional unemployment often address job entry threshold and wage rates.


According to the UN's International Labour Organization (ILO), there were 172 million people worldwide (or 5% of the reported global workforce) without work in 2018.[5]


Because of the difficulty in measuring the unemployment rate by, for example, using surveys (as in the United States) or through registered unemployed citizens (as in some European countries), statistical figures such as the employment-to-population ratio might be more suitable for evaluating the status of the workforce and the economy if they were based on people who are registered, for example, as taxpayers.[6]

encourage long-term unemployed people to register with an ;

employment service

provide each registered long-term unemployed person with an individual in-depth assessment to identify their needs and potential within 18 months;

offer a tailor-made job integration agreement (JIA) to all registered long-term unemployed within 18 months. These might include measures such as , help with job search, further education and training, support for housing, transport, child and care services and rehabilitation. Each person would have a single point of contact to access this support, which would be implemented in partnership with employers.

mentoring

someone aged 15 to 74 (in Italy, Spain, the United Kingdom, Iceland, Norway: 16 to 74 years);

without work during the reference week;

available to start work within the next two weeks (or has already found a job to start within the next three months);

actively having sought employment at some time during the last four weeks."

[38]

(2001). "Unemployment". Macroeconomics (Second ed.). Cincinnati: South-Western Publishing. pp. 173–192. ISBN 978-0-324-14964-7.

Farmer, Roger E. A.

(1943). "Political aspects of full employment" (PDF). The Political Quarterly. 14 (4): 322–331. doi:10.1111/j.1467-923X.1943.tb01016.x.

Kalecki, Michał

McGaughey, Ewan (September 2022). . (2022) 51(3) Industrial Law Journal 511–559. doi:10.2139/ssrn.3044448. S2CID 219336439. SSRN 3044448.

"Will Robots Automate Your Job Away? Full Employment, Basic Income, and Economic Democracy"

(2010). Aftershock: The Next Economy and America's Future (1st ed.). Alfred A. Knopf. ISBN 978-0-307-59281-1.

Reich, Robert B.

(2011). "Unemployment". Advanced Macroeconomics (Fourth ed.). New York: McGraw-Hill Education. pp. 456–512. ISBN 978-0-07-351137-5.

Romer, David

Simonazzi, Annamaria; (2001). "Financial Liberalization, the European Single Currency and the Problem of Unemployment". In Franzini, M.; Pizzuti, F. R. (eds.). Globalization, Institutions and Social Cohesion. Heidelberg: Springer. ISBN 978-3-540-67741-3.

Vianello, Fernando

Media related to Unemployment at Wikimedia Commons

Economic Policy Institute

CEIC Data

Current unemployment figures

Current unemployment rates by country

OECD Unemployment statistics

by Lebanese-economy-forum, World Bank data

Unemployment statistics

JobCity is Right Platform for Govt Jobs

– by country, 2007–2010

Thermal maps of the world's unemployment percentage rates

Quotations related to unemployment at Wikiquote The dictionary definition of unemployment at Wiktionary