Macroeconomic Objectives Of The Malaysian Economy Video
Macroeconomics- Everything You Need to KnowConsider: Macroeconomic Objectives Of The Malaysian Economy
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Unemployment : when a person is actively searching for a job, which they are able and. Difficulties in measuring unemployment:.
John H. Drabble, University of Sydney, Australia
Hidden unemployment : the stated unemployment rate may be overstated because some individuals conceal their true employment status as they fear the loss of transfer payments, like benefits, or are employed in illegal industries. Underemployment : individuals that are employed but they are unsatisfied as the work is inadequate. This may be because the only work they could find was part Tue, when they wanted full time, or they are highly skilled but have a low paid job. Average ignoring disparities : the unemployment rate is here an average so does not account for disparities in age, gender, ethnicity and region.
For instance, youth unemployement tends to be higher as well as the unemployment rate amoungst ethnic minority groups. In order to prevent more job losses, employers may cut the pay of those still employed which again leads to a loss of household income. Also individual industries tend to fair an economic downturn differently. For instance, owners of dicount stores and bankrupcy lawyers may do better than holiday companies and furniture stores during a recession. In addition, frustration with the policies may lead to greater violence aMlaysian riots.
Some people also resort to alcohol and drug abuse due to a loss of self esteem. This can reult in a higher instance of mental health issues. It is regarded as a Ogjectives and inevitable form of unemployment as even in a vibrant and growing economy some people will be changing their job.
It is caused by changes in the demand for particular labour skills, changes in the geographical location of industries, and labour market rigidities. For instance, the miners in s Britain suffered severe job losses in particular.]
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