Natural Rate of Unemployment

7 Pages 1761 Words

born. The net increase in employment is the differ-ence between all of the jobs that are lost, and all of those that are successfully created. In most years, enough new jobs have been created both to replace the old jobs that are destroyed and to provide jobs for the largely increased numbers in the labor force. The result has been a great net increase in employment in almost all years.
During the period of early 1980’s, worldwide unemployment rose to high levels. The unemployment remained at a high rate in many advanced industrial countries, and only be-gan to come down, very slowly, during the later half of the decade. For these reasons of study, the unemployed are grouped in various ways. They can be grouped by personal characteristics, such as age, their sex, their level of skill or education, or simply race or ethnic background. Other then these reasons mentioned they can also be clas-sified by location, by occupation, by the span of unemployment, or by the reasons for their unemployment or leaving the job. The recorded figures and facts for unemployment may considerably understate or overstate the estimation in numbers who are actually willing to work at the existing set of wage rates. Normally, overstatement arises because the estimated figure for unemployment includes people who are not interested in work but who say they are unemployed in order to recieve une...