Economic causes of the current level of unemployment in the uk Paper

Economic causes of the current level of unemployment in the uk Paper must be at least 2000 words. Please, no plagiarized work! The level of unemployment varies with economic conditions and other circumstances” (InvestorWords.com). From a European perspective, unemployment is “A measurement reflecting the number of people actively looking for, but unable to find work” We can say that unemployment is normally limited to the wage economy. It is a situation when there is no work to do, neither in paid employment nor in self-employment to be done for profit and livelihood. In official statistics, an unemployed person is one who is ready to take employment when offered and is searching for it.

Measuring unemployment is not easy. generally, it is taken as the workforce ready to work at the offered wage rate. Defining a term and making computations are two different concepts. A number of methods have been formulated to measure unemployment.

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The method of Claimant Count has been in use in the 1980s and 1990s. It is based on the counting of unemployed persons, availing benefits of remaining without a job. Those claiming benefits and those registered in employment exchanges should be counted carefully to avoid double counting. The method of claimant count has its own benefits and limitations. First, it is possible to count all those who are unemployed. there is no scope of committing an error in counting. Secondly, it is a cost-effective and recurrent resource for gathering data (www.bized.co.uk).

The Labor Force Survey takes into consideration samples of households, asking all people of work age to provide the data whether they are employed, unemployed or economic activity. This data is computed to know the exact number of unemployed, employed and underemployed. The biggest advantage of this computation method is that it adheres to global computing parameters. Statistically, it is possible to compare data among countries and different time periods (www.bized.co.uk).

Cyclical unemployment is due to a lack of demand for all those who want to work. Keynesian economists stressed specifically on this type of unemployment arising from disequilibrium in the economy.

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