Factors Influencing Unemployment - 700 Words

According to economists, employment and unemployment results when the supply and demand for human resources or labour is out of balance. Supply and demand are influenced by a range of forces that are the result of the interaction of economic, structural and policy factors. Economic Factors Economic factors affect both the supply and demand sides of labour. Demand for goods and services stimulate production which, in turn, generates employment. The resulting demand for workers affects the supply side as more workers are attracted to a vibrant labour market. The market never reaches this ideal state of balance due to a number of factors. Business cycles  ¾ Agreement among economists is rare, but they do agree that market-driven†¦show more content†¦The matching of skills in demand with those available is a common and persistent cause of unemployment. Education and training  ¾ Companies continually complain that the literacy levels of the work force do not meet the skill needs of the economy. As Canada shifts to a more knowledge-based economy, the availability of jobs for those without high levels of education will shrink.Show MoreRelatedMacroeconomic Variables Of The Stock Market974 Words   |  4 PagesExecutive Summary The belief of macroeconomic variables influencing the stock market has been a highly debated discussion for the past decades. There has been no clear conclusion whether or not macroeconomic variables impact the stock market or inversely. The importance of this study have been increasingly critical as not only stock agents find the critical importance but the government to implement macroeconomic policy; the solid finding of this relation will enable policy makers to efficientlyRead MoreUnemployment And Its Effects On The Economy1452 Words   |  6 PagesUnemployment occurs when a person who is actively seeking employment but unable to find work. It is often used as measure of the health of the economy and has been one of Australia’s most serious long term economic challenges in recent decades. Economic growth is an ongoing process of increase in the production capacity of goods and services over a period of time. This determines economic wealth and individual living standards . These two economic issues have been a continuous matter within AustraliaRead MoreEssay1253 Words   |  6 Pagesmodestly economically experienced a higher electoral vote share for far right parties during the 2009-2013 time period. Furthermore, the unemployment rate and economic growth did not appear to correlate with higher levels of support for far right parties, especially in modestly economically countries. The minimal impact of these factors in relatively low unemployment countries caused an increase of support for far right parties as the narrative was that if no action was taken to move away from the statusRead MoreFactors That Affect The Value Of An Economy1262 Words   |  6 Pagesabsolutely considered detrimental by most economists. Unemployment Rate The employment level is regularly quoted in relations to the unemployment rate; usually it is defined as the fraction of labor force presently not working (but aggressively seeking employment). Whether or not an economy is performing well in relation to the unemployment rate depends on the extent the rate is exceeding the 6-percent benchmark (Sommers, 2005). If an economy has an unemployment rate approximately 6 percent, it is consideredRead MoreResourcing Talent1247 Words   |  5 Pagesï » ¿Resourcing Talent This report identifies and evaluates 1.1 Organisation benefits of attracting and retaining a diverse workforce 1.2 Factors that affect an organisations approach to both attracting talent 1.3 Factors that affect an organisation’s approach to recruitment and selection. 2.1 Benefits of recruitment methods 2.2 Benefits of selection methods 4.1The purposes of induction and its benefit individuals and organisations 4.2Induction Plan 1.1organisation benefits of attracting and retainingRead MoreA General Public Survey Of Young Adults And Older Adults794 Words   |  4 Pagesthe nation’s labor market shows a decline in the unemployment rate, the percentage of young adults, ages 18-24, currently employed (54%) is at the lowest level since government data collection began in 1948. If you were working for a national survey organization doing a general public survey of young adults and older adults, what topics and questions would you design into your survey to elaborate on this finding? Survey topic as a factor influencing participation rates has become important and researchRead MoreSupply and Demand989 Words   |  4 Pagesand demand of goods and services vary due to various factors. This paper will discuss the supply and demand of vacation to a theme park and the various factors which affect them. First, there are many reasons why people wish to go on a vacation to a theme park. The many reasons include the fun and entertainment which can be experienced at the theme parks and also the family bonds that can be formed at the theme parks. Price is definitely a factor for people when making a decision to have a vacationRead MoreEconomic Policies Of Every Country Essay964 Words   |  4 Pages(inflation targeting), high employment etc. The policymakers have different tools to manage these issues, primarily by influencing the aggregate demand and supply, such as interest rates, requirements to the bank reserves, tax rates etc. Therefore, this is crucial to understand how these macroeconomic indicators are interconnected, such as for example output and unemployment, unemployment and inflation, and the mechanism of policy actions in each case. Thus, the aim of this essay is to explain how theRead MoreEffects Of Economic Growth On Unemployment And Inflation1150 Words   |  5 Pages Discuss the effects of economic growth on unemployment and inflation in Australia Economic growth is an increase in the volume of goods and services that an economy produces over a period of time and is measured by the annual rate of change in real Gross Domestic Product (GDP). Economic growth is classified as one of the most important indicators of an economy’s performance. Australia has maintained an average of 3.3% real GDP growth since 1992. The pursuit of a stable economic growth is a majorRead MoreHow Capitalism Contributes Towards Unemployment Essay1650 Words   |  7 PagesThis business proposal will address the idea of unemployment as a social problem in today’s society. How capitalism contributes towards unemployment is an issue that has been around since the 2007 recession and continue to be an issue for the foreseeable future. A business idea to help move in the right direction and hopefully start to lower the unemployment rate in New Zealand is to start a market where people who are unemployed and willing to work can sell food and gener ate income for themselves