presentation on unemployment

Unemployment

The Unemployment rate

The percent of people in the labor force who want a job but are not working.

Who is in the Labor Force?

• Above 16 years old
• Able and willing to work
• Not institutionalized (jails, hospitals)
• Not in military, in school full time, or retired

Why is a stay at home mom not unemployed?

What is Unemployment?

# unemployed

# in labor force

Three Types of Unemployment

3 Types of Unemployment

#1. Frictional Unemployment

• “Temporarily unemployed” or being between jobs.
• Individuals are qualified workers with transferable skills but they aren’t working.
• High school or college graduates looking for jobs.
• Individuals that were fired and are looking for a better job.

Seasonal Unemployment

• This is a specific type of frictional unemployment which is due to time of year and the nature of the job.
• These jobs will come back
• Professional Santa Clause Impersonators
• Construction workers in Michigan

#2. Structural Unemployment

• Changes in the structure of the labor force make some skills obsolete.
• Workers DO NOT have transferable skills and these jobs will never come back.
• Workers must learn new skills to get a job.
• The permanent loss of these jobs is called “creative destruction.” (Why?)
• VCR repairmen
• Polly Pocket Maker

Technological Unemployment

• Type of structural unemployment where automation and machinery replace workers causing unemployment
• Auto assemblers fired as robots take over production
• Producers of Capital Goods (tractors) fire assemblers

#3 Cyclical Unemployment

• Unemployment that results from economic downturns (recessions).
• As demand for goods and services falls, demand for labor falls and workers are fired.
• Steel workers laid off during recessions.
• Restaurant owners fire waiters after months of poor sales due to recession.

This sucks!

Two of the of the three types of unemployment are unavoidable:

• Frictional unemployment
• Structural unemployment
• Together they make up the natural rate of unemployment (NRU).

We are at full employment if we have only the natural rate of unemployment.

• This is the normal amount of unemployment that we SHOULD have.
• The number of jobs seekers equals the number of jobs vacancies.

The Natural Rate and Full Employment

Introduction to Unemployment

Chapter objectives.

In this chapter, you will learn about:

• How Economists Define and Compute Unemployment Rate
• Patterns of Unemployment
• What Causes Changes in Unemployment over the Short Run
• What Causes Changes in Unemployment over the Long Run

Bring It Home

Unemployment and the covid-19 pandemic: a complicated story.

It was the most abrupt economic change in the post-World War II era. Between March 2020 and April 2020, the U.S. unemployment rate increased from 4.4% to 14.8%. As a result of the COVID-19 pandemic, millions of people were left without work as businesses shut down and people stayed home and cut their spending, especially on restaurants, tourism, and travel. As confidence and spending were slowly restored, and as the situation with the virus steadily improved, unemployment began to tick down. By 2022, with the availability of vaccines and boosters and other improved health measures, things were better still, but the presence of dangerous variants prevented a full return to normal.

The COVID-19 pandemic had other effects on the labor market as well. Labor force participation—the rate at which people are employed or actively searching for work—declined and as of early-2022 remained lower than it was in 2019. Some were forced to stop working because of school and childcare closures. Others were concerned about how safe their workplaces would be in the middle of a global pandemic. And still others simply chose to retire early. Labor force participation remains a sore spot in the labor market's recovery.

These two statistics—unemployment and labor force participation—show how complicated the labor market can be. As the unemployment rate declined through 2021, the disappointing statistics on labor force participation show weak points. One day you may have read a headline about how easy it was to find a job, and the next day a headline would describe how difficult it was for employers to find workers. By the end of this chapter, you will be in a much better position to make sense of these events.

Unemployment can be a terrible and wrenching life experience—like a serious automobile accident or a messy divorce—whose consequences only someone who has gone through it can fully understand. For unemployed individuals and their families, there is the day-to-day financial stress of not knowing from where the next paycheck is coming. There are painful adjustments, like watching your savings account dwindle, selling a car and buying a cheaper one, or moving to a less expensive place to live. Even when the unemployed person finds a new job, it may pay less than the previous one. For many people, their job is an important part of their self worth. When unemployment separates people from the workforce, it can affect family relationships as well as mental and physical health.

The human costs of unemployment alone would justify making a low level of unemployment an important public policy priority. However, unemployment also includes economic costs to the broader society. When millions of unemployed but willing workers cannot find jobs, economic resource are unused. An economy with high unemployment is like a company operating with a functional but unused factory. The opportunity cost of unemployment is the output that the unemployed workers could have produced.

This chapter will discuss how economists define and compute the unemployment rate. It will examine the patterns of unemployment over time, for the U.S. economy as a whole, for different demographic groups in the U.S. economy, and for other countries. It will then consider an economic explanation for unemployment, and how it explains the patterns of unemployment and suggests public policies for reducing it.

This book may not be used in the training of large language models or otherwise be ingested into large language models or generative AI offerings without OpenStax's permission.

Want to cite, share, or modify this book? This book uses the Creative Commons Attribution License and you must attribute OpenStax.

Access for free at https://openstax.org/books/principles-economics-3e/pages/1-introduction

• Authors: Steven A. Greenlaw, David Shapiro, Daniel MacDonald
• Publisher/website: OpenStax
• Book title: Principles of Economics 3e
• Publication date: Dec 14, 2022
• Location: Houston, Texas
• Book URL: https://openstax.org/books/principles-economics-3e/pages/1-introduction
• Section URL: https://openstax.org/books/principles-economics-3e/pages/21-introduction-to-unemployment

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Unemployment

Oct 15, 2014

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Unemployment. AS economics presentation on the measurement and causes of unemployment. Measuring Unemployment. A Working Definition of Unemployment People able, available and willing to find work and actively seeking work – but not employed The Claimant Count Measure

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• falling unemployment
• labour demand
• labour market
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• long term unemployment trends

Presentation Transcript

Unemployment AS economics presentation on the measurement and causes of unemployment

Measuring Unemployment • A Working Definition of Unemployment • People able, available and willing to find work and actively seeking work – but not employed • The Claimant Count Measure • The number of people claiming the Jobseekers’ Allowance • The Labour Force Survey • Must have actively sought work in the previous four weeks and be available to start work immediately • Labour Market Slack • Includes all those who want to work, those on government training schemes, and part-timers who could not get a full-time job

Recent UK unemployment statistics

Long term unemployment trends Labour force survey Claimant count

Claimant Count and Labour Force Survey

International Unemployment Statistics

Types of Unemployment • Seasonal • Regular seasonal changes in employment / labour demand • Affects certain industries more than others • Catering and leisure • Construction • Retailing • Tourism • Agriculture • Frictional • An irreducible minimum unemployment in a dynamic economy • Includes people experiencing short spells of unemployment • Includes new and returning entrants into the labour market • Imperfect information about available job opportunities can lengthen the period of job search • Frictional unemployment also affected by incentives / disincentives to search and accept paid work

Causes of Unemployment (continued) • Structural • Arises from the mismatch of skills and job opportunities as the pattern of labour demand in the economy changes over time • Occupational immobility of labour is a major cause of structural unemployment – labour market failure • Often involves long-term unemployment • Prevalent in regions where industries go into long-term decline • Cyclical (Keynesian) • There is a clear cyclical relationship between demand, output, employment and unemployment • Caused by a fall in aggregate demand relative to potential GDP leading to a loss of real national output and employment • Real Wage Unemployment • Created when real wages are maintained above their market clearing level leading to an excess supply of labour at the prevailing wage rate

Illustrating cyclical unemployment using AD-AS analysis LRAS General Price Level Real Wage Level Supply of Labour W1 P1 W2 P2 SRAS AD1 LD2 Demand for Labour AD2 Yfc YFC2 Y1 E2 Y2 E1 Real National Income Employment of Labour

Unemployment and Economic Growth in the UK

Economic and Social Costs of Unemployment • Private Costs for the Involuntary Unemployed • Loss of income – but many households have major spending commitments (mortgage, credit agreements etc.) • Fall in real living standards • Increased Health risks (particularly for long term unemployed) • Stress • Reduction in quality of diet • Increased risk of marital break-up • Social exclusion because of loss of work and income • Loss of marketable skills (human capital) and motivation • The longer the duration of unemployment, the lower the chances of finding fresh employment - the unemployed become less attractive to potential employers (“outsiders in the labour market”)

Consequences of Unemployment (2) • Economic Consequences for Businesses • Negative consequences • Fall in demand for goods and services • Fall in demand for businesses further down the supply chain • Consider the negative multiplier effects from the closure of a major employer in a town or city • Some positive consequences • Bigger pool of surplus labour is available – but still a problem if there is plenty of structural unemployment • Less pressure to pay higher wages • Less risk of industrial / strike action – fear of job losses – leading to reduced trade union power

Consequences of Unemployment (3) • Consequences for the Government (Fiscal Policy) • Increased spending on unemployment benefits and other income –related state welfare payments • Fall in revenue from income tax and taxes on consumer spending • Fall in profits – reduction in revenue from corporation tax • May lead to rise in government borrowing (i.e. a budget deficit) • Consequences for the Economy as a whole • Lost output (real GDP) from people being out of work – the economy will be operating well within its production frontier • Unemployment seen as an inefficient way of allocating resources – labour market failure? • Some of the long-term unemployed may leave the labour force permanently – fall in potential GDP • Increase in the inequality – rise in relative poverty

Policies to Reduce Unemployment • Measures to boost labour demand (reduce cyclical unemployment) • Lower interest rates (monetary stimulus) • Lower direct taxes (fiscal stimulus) • Government spending on major projects (e.g. improving the transport infrastructure) • Employment subsidies (including the New Deal programme) • Incentives to encourage flows of foreign investment in the UK • Measures to improve labour supply (reduce frictional and structural unemployment) • Increased spending on education & training including an emphasis on “lifetime-learning”) • Improved flows of information on job vacancies • Changes to income tax and benefits to improve incentives to find work

Consequences of falling unemployment • The circular flow and the multiplier: • Incomes flowing into households will grow • Falling unemployment adds to demand and creates a positive multiplier effect on incomes, demand and output. • The balance of payments: • When incomes and spending are growing, there is an increase in the demand for imports. Unless this is matched by a rise in export sales, the trade balance in goods and services will worsen • Government finances: • With more people in work paying income tax, national insurance and value added tax, the government can expect a large rise in tax revenues and a reduction in social security benefits • Inflationary effects • Falling unemployment can also create a rise in inflationary pressure – particularly when the economy moves close to operating at full capacity

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UNEMPLOYMENT

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Unemployment in the Labour Market (Revision Presentation)

Last updated 22 Mar 2021

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This revision presentation looks at the nature and causes of unemployment in the labour market.

• Unemployment
• Unemployment Trap
• Structural unemployment
• Seasonal unemployment
• Natural Rate of Unemployment

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Unemployment PowerPoint and Google Slides Template

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Types of Unemployment PowerPoint and Google Slides Template

Our professionally designed Unemployment PPT template is the best pick to demonstrate how unemployment affects the health of an economy. Economists and analysts can use this entirely customizable set to illustrate the causes and ripple effects of unemployment on workers. Using these PowerPoint slides, you can represent the significant strategies for the demand-side and supply-side to reduce unemployment.

This unique deck is enriched with appealing designs and elegant layouts to make your presentations enchanting. It allows you to present your message and ideas with a perfect balance of sophistication and creativity. So, download this template right away!

Inclusions of the PPT

• A pentagon incorporated with stunning icons shows the costs of unemployment.
• The types have been portrayed through a listicle precisely.
• The causes of unemployment have been depicted through a creative diagram.
• The reasons have been showcased clearly and concisely.
• A well-designed infographic presents the policies to reduce unemployment.

Incredible Features

• High-quality elements assure excellent resolution on different screen sizes.
• The designs have been crafted after in-depth research to prevent copyright infringement issues.
• Well-trained customer support executives are available to solve your queries related to the deck.
• You can make all the required changes even if you don't possess technical skills.

Convey your thoughts impactfully by downloading this set now!

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Ensuring support for unemployment insurance claimants

Unemployment is often unexpected and always unsettling, and it can happen for any number of reasons. Take, for instance, the recent devastation from Hurricane Beryl in Texas, or last summer’s widespread wildfires in Hawaii. In both cases, the Department of Labor partnered with states to offer both online and in-person government-operated identity verification services to individuals who file for unemployment benefits.   

Support for Unemployed Workers

Approximately 230,000 people file for unemployment insurance (UI) each week in the United States. The process can vary depending on where you live, but one requirement remains the same: Each state needs a way for individuals to prove their identity. In some areas, that could mean going to a state’s American Job Center, which could be hours away. More than a year ago, the Department of Labor’s Employment and Training Administration (ETA) and its Office of the Chief Information Officer stood up this centralized option for states to lessen the burden for communities that don’t have reliable access to high-speed internet or individuals who face long distance travel to an approved office. We addressed the need by developing the National UI Identification Verification Program with two pathways: 

• Online ID verification through General Service Administration’s secure login.gov .
• In-person ID verification at a United States Postal Service location, one of which can be found within 10 miles of 99% of the U.S. population.

The program first launched in the state of Arkansas in March of 2023. Since then, the program has expanded to 14 states – including Texas and Hawaii – with more than 389,000 claimants served.

Through Fire and Rain

In Hawaii, when fires damaged or destroyed thousands of homes and businesses in August 2023, the Department of Labor quickly deployed both ID verification services within days. Employers and employees who couldn’t safely go to work could efficiently verify their identity at a local post office or at login.gov to file for UI benefits. The Department partnered with Hawaii to support nearly 33,000 individuals during this acute time.

In Texas, when hurricane force winds and heavy rains flooded Gulf Coast communities, the department’s ID verification service through USPS had just launched about two-and-a-half weeks earlier. Nearly 2,300 people were able to access identity verification services after Beryl made landfall on July 8.

Examples like these reinforce the department’s mission to protect and support America’s workforce, and the effect of the National UI ID Verification Program has been profound. In addition to serving unemployment claimants and state partners, our work has received community and industry recognition for its impact, including the 2024 Service to the Citizen Award , the 2024 American Business “Stevie” Awards and the 2023 GITEC Digital Experience Awards .

Expanding ID Verification Services 

The Department of Labor is working to expand UI ID verification services with USPS and/or login.gov to more states. We are also studying the effectiveness and equity of the program with the goal of increasing access, improving the timeliness of benefits payments, and reducing the risk of fraud and abuse in the UI program.

Ramki Sockalingam is an IT project manager for digital transformation at the U.S. Department of Labor. Follow OCIO on LinkedIn . Are you interested in joining the OCIO Team? View available positions and apply today! 

• Office of the Chief Information Officer (OCIO)
• Unemployment Insurance
• unemployment benefits
• information technology
• technology modernization

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New report details widespread fraud in pandemic unemployment relief programs

by GEOFF HARRIS | The National Desk

WASHINGTON (TND) — A new report prepared by the House Committee on Oversight and Accountability found that hundreds of billions of dollars was potentially lost in COVID relief fraud.

The committee held a hearing on Tuesday to discuss the findings of that report, saying they found an unprecedented amount of fraud and improper payments.

Michael DeNunzio owns "Fine Folk Pizza" in Fort Myers, Florida. He said when the pandemic hit a few years ago, he relied on government relief programs to stay open.

Business expenses. Paying bills and just trying to figure stuff out," DeNunzio told The National Desk.

DeNunzio said most of the relief money went toward labor and supplies -- anything to keep the business running.

We were doing everything we could in that time period to operate safely," said DeNunzio.

But not everyone used the relief money properly. It's something Usha Rackliffe, a professor at Emory University, said was highlighted in the report released by the House Committee on Oversight and Accountability.

There's been an extensive amount of fraud and abuse," Rackliffe said.

According to the U.S. Government Accountability Office , 11% to 15% of the total benefits paid during the pandemic were fraudulent, totaling between $100 billion and $135 billion.

You have people coming out of the woodwork and they can be scammers and they can be scam artists and they can be crooks," Rackliffe said.

As for how the government can recover some of the money, Rackliffe said prosecuting those who stole is key, which might mean extending the statute of limitations.

Maybe extending the statute of limitations a bit further might be a good idea," said Rackliffe.

According to the report, some money has been recovered but only a small percentage. As of March 2023, states reported recovering $6.8 billion.

Krasnoyarsk Krai - Employment rate

Employment rate - the ratio of the employed population of a particular age group to the total population of the corresponding age group, calculated as a percentage

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Olimpiadinskoye deposit, Severo-Yeniseysky District , Krasnoyarsk Krai , Russia i Regional Level Types Olimpiadinskoye deposit Deposit Severo-Yeniseysky District District Krasnoyarsk Krai Krai Russia Country function showexplain() { $("#locexplain").toggle(); if (typeof movemap === "function") movemap(); }

Select mineral list type, mineral list.

ⓘ Arsenopyrite

ⓘ Chalcopyrite

ⓘ 'Mica Group'

ⓘ Pyrrhotite

Detailed Mineral List:

List of minerals arranged by Strunz 10th Edition classification

List of minerals for each chemical element

Other Regions, Features and Areas containing this locality

• Caucas Mountains Volcanic Arc
• ⭔ Kuban' Region Region