Unemployment
No single economic statistic attracts more notice or implies more about the well being of the social system than does the unemployment rate. The moral and economic waste brought on by recurring waves of unemployment has always been one of the principal reproaches directed at the capitalist system by its critics. In their pursuit of profits and their attempts to avoid losses, private sector companies discharge workers permanently or temporarily for various reasons. Previously, to be without work was to be involuntarily idle, and unemployment tended to be seen as an individual matter rather than a social concern beyond the will of the persons involved. To be without work was more of leisure than what we would call unemployment today. Mass unemployment gradually came largely due to the pursuit of economic self-interest and an extensive division of labor. Apart from unemployment that is the result of an inadequate level of aggregate demand, important categories are frictional, s!tructural, and seasonal unemployment. Frictional unemployment is the unemployment that corresponds to job vacancies in the same occupations and locations. Some workers will be frictionally unemployed because of job search. Workers will try to better the
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Some common words found in the essay are:
, Governments Western, Development Canada, Unemployment Insurance, Insurance Act, unemployment insurance, labor market, seasonal unemployment, aggregate demand, labor force, frictional unemployment, create jobs, unemployment occupation, structural unemployment, free trade, demand deficient unemployment, life millions people, unemployment cyclical unemployment, size labor force, unemployment level unemployment,
Approximate Word count = 2306
Approximate Pages = 9 (250 words per page double spaced)
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