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Should UK policy makers be concerned about unemployment persistence and hysteresis given the increase in the unemployment rate since the start of the recession in 2008 - Essay Example

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Since employment is the major source of income for most people losing their jobs will definitely be a devastating aspect. Unemployment means that…
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Should UK policy makers be concerned about unemployment persistence and hysteresis given the increase in the unemployment rate since the start of the recession in 2008
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Should UK policy makers be concerned about unemployment persistence and hysteresis given the increase in the unemployment rate since the start of the recession in 2008

Download file to see previous pages... There are numerous approaches to define unemployment; these approaches have been made since unemployment may not be an easy aspect in the globe. There have arisen numerous challenges which have pushed the international agencies to formulate different aspects of unemployment (Mortensen, Pissarides, Tatsiramos & Zimmermann, 2011).
This approach is based on the data collected from persons who claim they are not employed. In the UK, such category of individuals is liable to get some help from the government, the help can be termed as the Jobseeker’s Allowance (JSA). The specifications such people need to accomplish include; out of work for less than 16 hours a week, be available for work, currently seeking employment, capability to handle work, be of age and a resident in the UK. This can be summarized by the following equation to depict the percentage unemployment rate:
ILO measures that group of people who are not working, actively seeking jobs and capable of undertaking any job that may arise. This approach measures the proportion of the population that is unemployed, this encompasses: those who are economically active in the country. The rate, which is arrived at is state based since it encompasses residents of the particular country (Clasen, Goul, Halvorsen & Oorschot, 2002).
Census in the UK is carried out after every 10 years; it aims at providing a count of all people and the households apart from the demographic data which is collected. The census also avails a big range of labour related data. This data is very important in measurement of unemployment. According to the census reports, unemployment can be described as the number of persons who do not have jobs and are actively looking for jobs. This is the same principle outlined in the International labour organization (ILO) (Howell, 2005).
Unemployment revolves around the economic factors in the country. Every small sector in the economy ...Download file to see next pagesRead More
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