12/18/2023 0 Comments Social processes of unemployment![]() ![]() In 2005, for example, there were typically about 7.5 million unemployed people at any given time in the U.S. But in periods of economic growth, these destroyed jobs are counterbalanced for the economy as a whole by a larger number of jobs created. workers saw their jobs disappear in any three-month period. In the mid-2000s, before the recession of 2008–2009, it was true that about 7% of U.S. ![]() For individuals and companies to be successful and productive, you want people to find the job for which they are best suited, not just the first job offered. It takes time on part of both the employer and the individual to match those looking for employment with the correct job openings. Frictional unemployment is not inherently a bad thing. The unemployment that occurs in the meantime, as workers move between jobs, is called frictional unemployment. But in the real world, even if the number of job seekers is equal to the number of job vacancies, it takes time to find out about new jobs, to interview and figure out if the new job is a good match, or perhaps to sell a house and buy another in proximity to a new job. In a perfect world, all of those who lost jobs would immediately find new ones. Conversely, other companies will be doing very well for just the opposite reasons and looking to hire more employees. In a market economy, some companies are always going broke for a variety of reasons: old technology poor management good management that happened to make bad decisions shifts in tastes of consumers so that less of the firm’s product is desired a large customer who went broke or tough domestic or foreign competitors. ![]()
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |