Contact Us
Sign In / Sign Up for FREE
Go to advanced search...

Unemployment and Labor - Essay Example

Comments (1) Cite this document
Labor is a factor of production among land and capital. The equilibrium of labor market is attained only when the wages are flexible fully. That is when the demand for labor and quantity of supply match…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER92.7% of users find it useful
Unemployment and Labor
Read TextPreview

Extract of sample "Unemployment and Labor"

Download file to see previous pages Unemployment and labor

Decrease in labor demand and low cost of labor may also result into labor market movement. This is because the mentioned determinants will depress the incomes of labor. Other determinants of labor market movement include culture and demographics. This also includes cyclical elements like government benefits, demand for workers, and unemployment generosity. According to recent studies, labor market can also be determined by indicators such as: distribution of labor force by gender, age, and participation rates; level of education; employment distribution by sex and age; class of workers; status of job; employment rate by sex; unemployment rate by sex and age; and number of people not employed and distribution by age and sex. The labor market movement is determined by many other factors depending on the distribution of labor characteristics in that market. Educational level and qualification has a central role in job transition in the labor market. Work experience and structural factors also influence the possibility of labor movement and the direction in all market segments. Labor market competition and attitude towards immigration are also determinant factors to be considered. Based on education, investment on human capital and specialization in various occupations may also determine movement within labor market.

In order to forecast the rate of unemployment and nonfarm payroll change for November, I will make use of the past rates of employment in history. The prevailing market demands for labor, labor cost, required education level, rate of economic growth, unemployment policies, and interest rates. In the process of ascertaining the forecasted rate of unemployment, I will use the flexicurity debate concept that combines the flexibility of labor market with the security of employees. This concept has been formulated and initiated globally in attending to unemployment. As a concept it shows the necessity of balancing the need for protecting the security of labor market with the need for sufficient flexible labor market. The flexicurity policy is a reliable and flexible contractual agreement via modern labor law and agreement collectively with the employee’s organization. This determines the continual opportunity for training employees for employability and adaptability. This will help me in forecasting the rate of unemployment. Active and effective policies of labor market assist employees to cope the drastic changes. This helps in minimizing the duration of unemployment and even facilitates the movement to new jobs. These policies also encourage employment, provide for sufficient support in terms of income, facilitate the coverage of the provision of social protection, and facilitate the mobility of labor market. Hence, the details of the policies will help me forecast the rates of unemployment. The history of protection of labor is primarily about the working class and the labor movement development. The policies of labor protection have been used before in determining social welfare and economic development. The need to protect the rights of workers has since made the government to get involved in the regulation of policies. These policies are often used to determine compensation and benefits accorded to workers. Therefore, the labor protection policies can also be used to forecast the nonfarm payroll change as ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
(“Unemployment and Labor Essay Example | Topics and Well Written Essays - 1000 words”, n.d.)
Unemployment and Labor Essay Example | Topics and Well Written Essays - 1000 words. Retrieved from
(Unemployment and Labor Essay Example | Topics and Well Written Essays - 1000 Words)
Unemployment and Labor Essay Example | Topics and Well Written Essays - 1000 Words.
“Unemployment and Labor Essay Example | Topics and Well Written Essays - 1000 Words”, n.d.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
leonardschiller added comment 8 months ago
Student rated this paper as
I didn’t know how to start my essay. "Unemployment and Labor" helped me out a lot! Especially the list of content was valuable.

CHECK THESE SAMPLES OF Unemployment and Labor

Labor Relations and Unions

Prior to the passage of the Taft-Hartley Act in 1947, unions and employers covered by the National Labor Relations Act could lawfully agree to a "closed shop", in which employees at unionized workplaces are required to be members of the union as a condition of employment (Wikipedia, 2006). The federal statute known as the National Labor Relations Act (NLRA) establishes the federal structure for dealing with unions in the private sector. Under this statute, the union which has been selected as the collective bargaining agent has the power to extract dues and fees from all members in the bargaining unit as long as the employer agrees to such a provision in the collective bargaining agreement. The ability to require the payment of du...
9 Pages(2250 words)Case Study

Unemployment in Canada during Interwar Period

The dry market structure contributed more to the collapse of the job structure. The data showing a persistent high level of mass unemployment reveals a severe threat of Canada attaining the same level of the unemployment rate. In the event of Canada reaching the same historic level of unemployment in the future, the economy is likely to suffer from all those pains already faced in the past. Hence, a comprehensive analysis of the unemployment rate of Canada thus helps us to attain significant knowledge of its past, present and to some extent even the future scenario of the economy.

Unemployment is that curse that can cripple an entire economy. Throughout the past, Canada has remained a victim of long-term mass unemployme...
15 Pages(3750 words)Term Paper

Three Types of Unemployment

Nevertheless, whatever the reasons may be, the state of unemployment is fatal for any person if he is actively seeking employment. Any individual at any stage can be bitten by this worm of unemployment. Unemployment also gives an indication of how the economy of a country is performing, higher the number of unemployed people in the economy more is the dipping status of the economic sector. So hereby, we see that the country’s unemployment status has an inverse relationship with economic growth. The economic growth of a country is governed by inflation in the economy, which in turn is governed by the money supply in the economy.

NSSO defines Unemployment as a situation in which all those who, owing to lack of work...
15 Pages(3750 words)Assignment

Child Labor

The historical record of child labor statistics shows that child labor was at its peak in the USA in 1910. In 1880 there were 1,118,356 (or 16.5%) children between ten to fifteen years of age who were involved in strenuous physical work. In 1900 their number rose to 1,750, 178 (or 18.2%). In 1910 the number yet again rose to a record height of 1,990,225 or 18.4% (Fuller, 1923). Although the situation has improved a lot still even today America is not free from the evil of child labor. In a prosperous country like the USA, approximately 500,000 children work in the fields every day. These include children as young as five years old who work approximately 70 hours a week to support their families economically (Children in the Fields...
12 Pages(3000 words)Assignment

Labor Law and Employment Relationships

Since Mandy gets a ‘fee’ for every piece of work that she does for the Richie and co Ltd, and since she does not draw a salary on a monthly or a weekly basis, she is a freelancer and not an employee. Richie also does not provide her with health benefits or some other benefits that she would have been entitled to get had she been an employee. Moreover, though Mandy does not work at the offices of Richie and co Ltd all the time. In most of the cases, she works from a purpose-built summer house in her own garden. Therefore, it can be concluded that Mandy is not an employee of Richie and co Ltd (“How to tell if you’re a freelancer or an employee, by Maggie”).
Sonia, too, cannot be regarded as an empl...
7 Pages(1750 words)Assignment

The Economic Causes of the Current Level of Unemployment in the UK

...Topic: Unemployment Introduction Before finding an answer to the economic causes of the current level of unemployment in the UK, it is essential to define unemployment. Let’s consider a web definition of employment, which states that unemployment is “An economic condition marked by the fact that individuals actively seeking jobs remain unhired. Unemployment is expressed as a percentage of the total available work force. The level of unemployment varies with economic conditions and other circumstances” ( From a European perspective, unemployment is “A measurement reflecting the number of people actively looking for, but unable to find work” ( We can say...
8 Pages(2000 words)Term Paper

Unemployment in America

..., as corporations have slowly outsourced jobs overseas for minimal wage rates. The question becomes at what extent should they be allowed to continue paying what has been deemed “slave labor rates.” While these are the realities of the globalized world, they have been coupled in recent years with the collapsing American economy, which has in-turn resulted in staggering unemployment rates. The unemployment rate is perhaps the hot-bottom issue within the American economy with researchers noting that currently the average duration an individual stays on unemployment – over twenty-weeks – is the highest it has been since World War II (Tanous 73). While robust stimulus packages have been argued to stem the tide of unemployment, they have also...
8 Pages(2000 words)Term Paper

How Artificial Intelligence Is Causing Unemployment in the World

...Insert Insert Grade Insert Insert Artificial Intelligence Introduction Artificial intelligence refers to automation of tasks by use of programmed robots or computer programs. This robots or programs operate with less or no human labor. Hence it can be said that artificial intelligence is taking away jobs from people resulting in technological unemployment. As the world embraces technology, more and more tasks are being taken from people and given to machines. This unemployment results in concentration of wealth in the wealthy few leaving the majority jobless. The research question in this paper is if artificial intelligence is a good thing especially in the labor market. I will provide the reasons, explanations, and examples of how...
7 Pages(1750 words)Research Paper

Analysis of Articles about Labor Legislation

It subsequently comes to the conclusion that if the minimum wages that the adults usually earn after they have worked can be raised by a law that is passed to specifically deal with this area, then the impact on the labor industry would be intriguing. A high minimum wage might make more adults become unemployed since the employers will not hire them so that they can be able to reduce their expenditure and this will make them send their children to take them places that they will have left vacant. When more children take up these jobs, they will continue to displace more adult labor and therefore the children will have to keep going to work (p.1)

This kind of scenario will most probably take place in an economy that is p...
10 Pages(2500 words)Annotated Bibliography

Child Labor

... Issue Report-Child labor The concern over the of child labor continues to grow despite the milestones made in the emancipation of the societies regarding the issues of human rights and freedoms. The concern over the lives of over a billion children across the globe and their future, which hangs on the gloom from the challenge of child labor, is remarkably impacting on the society. Further, the establishment of various entities, organizations, governments and individual works, all focusing on the issue of child labor and its eradication, depicts the vast significance entailed in the subject of child labor. The International Labor Organization (ILO) is among the leading entities that give the due priority to the issue, particularly...
11 Pages(2750 words)Assignment
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Essay on topic Unemployment and Labor for FREE!

Contact Us