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ves mismatches between the demand and supply of laborers with the necessary skill set; it is encouraged by the disruptive technologies and the globalization. The classical and neoclassical economics focuses more on how rigid the labor market entails from the outside, for instance, minimum wage laws, unionization, taxes, and other policies that may put off the hiring of workers. People take unemployment as mostly bad because of voluntary choices by the unemployed and the period it takes to get a new work. Unemployment can come as a result of efficiency wages and sticky wages. Measuring unemployment is different depending on the country; they experience different levels of unemployment.
Voluntary unemployment attributes to the personal decisions. Keynes theory argues that the neo-classical economic theory was not applicable during the recession because of private sector apprehension and over saving. Consequently people were thrown out of job involuntary and cannot get another acceptance for employment opportunity (Arestis 2002, p, 174). The neoclassical and Keynesian theories conflict has had a strong influence on the government policy. The purpose of the government is to eliminate and restrain unemployment through an increase in the government jobs and benefits. Government should take the step of encouraging the job seeker to both consider relocation to a new town and new careers. Involuntary unemployment does not exist in developing societies but urban cities such as India or Pakistan and mega cities of Africa (Hammer 2003, p. 220). The countries such as this, unemployed personnel should meet their survival needs at any price, getting a new job, becoming an entrepreneur or amalgamating the alternative economy of the hustler.
The labor market is not that sure in the sense of the word; this is because there is always some unemployment. Labor market is very special to those who make a difference between non clearing and market clearing. Human transaction takes place
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The prison and rehabilitation system is a system which is largely based on punishment and consequence. It is a highly structured system which seeks to provide a control mechanism for the actions of prisoners as part of their rehabilitation and of paying their debt to society.
The capacity of appropriating profits in the exchange for research expenditures has been specially addressed within the purview of the new growth theory. The macroeconomic policy and the competitiveness in price are also important to the growth. The fiscal and the monetary policy also may lead to the reduction of the cyclical imbalances and uncertainty and also low interest rates which helps in the encouragement of investments.
According to the report employers are focused at recruiting experienced and well trained employees. It is prudent for institution of higher learning to offer courses that are competitive and geared towards addressing the challenges particularly in the marketing sector. Students who aim at working in the field of marketing should be keen in selecting marketing units.
Based on the GDP numbers for the years 2008 and 2009, one learns that “the economy contracted even more sharply than previously thought in the first quarter of 2009: 2.4 per cent compared to the preliminary estimate of a 1.9 per cent contraction.” (Lynch, 2009) The promising rise of industrial production in April 2010 did provide hope for an early recovery.
In particular, this discipline carries crucial importance on the lives and welfare of every human being. Any economy that has thriving macroeconomic management should be in a position to experience low rates of unemployment and inflation with a steady and sustained economic growth and vise versa (Bade and Parkin 1983).
The misuse and certain aspects of the policy resulted in criticism. And therefore, the policies were reformed and are still under consideration. Next, I have discussed the issue relating to carbon tax. It has been discussed and evaluated about how the Australian government thinks that only hefty taxes can reduce the amount of pollution emitted in the air versus the party that assumes that the large businesses are the drivers of the growing economy and imposing heavy taxes will shut down the businesses.
The labour laws in the region have played role in the market and there have been many calls for review of the labour laws in most countries especially France which has been worst hit by labour crises. There has been evidence of the persistence of the stock of unemployment and employment in the European countries as contrasted to the US or Canada and the trend has taken of prima-facie evidence of declines in hiring and firing as regard the mobility of the work force.
It will require a greater understanding of and appreciation, by all of us, of the uniqueness of each individual, as well. The practice of discrimination is not sporadic or limited to specific areas. It is a global problem as no country is free from it, well including the UK.