Evaluate the different economic explanations of the current level of unemployment in the UK, discuss the economic and social costs and consider the policy measures available to the government to tackle the problem
According to a report of 2007, unemployment in the United…
To understand more about the unemployment in the United Kingdom, it is of vital importance to elaborate the different types of unemployment. The types of unemployment indicate the causes of unemployment in any country. There could be many reasons or causes for the unemployment. In this paper, the causes and types relevant to the unemployment in the UK are discussed. Below are three common types of unemployment:
Cyclical/Keynesian or Deficient-Demand Unemployment: This type of unemployment is associated with the Gross Domestic Production (GDP). In this type of unemployment, the rate of unemployment goes up when the GDP goes negative.
Seasonal Unemployment: As obvious with the name, the seasonal unemployment refers to the seasonal opportunities. As the businesses related to the hotel reservation have some peak seasons. Their businesses are at peak in vacation months like December. February is mostly their off season.
Hidden Unemployment: People get frustrated when they constantly struggle to get jobs but unfortunately, they fail to obtain suitable positions. After some time, frustration makes them hopeless and government do not really count them so they are not reflected in the statistics. Such state refers to the hidden unemployment phase.
The claimant count and the labor force survey are the most successful and accurate ways to measure unemployment (Gillespie, 2007, pp.347-60). The claimant count refers to the number of applicant applying for the Jobseeker’s Allowance. However, it is not possible that all clamant applicants get successful. Due to the rigid requirements, one can fail to claim. Such applicants cannot be reflected in the total claimant count therefore, it is necessary not to just rely on this record. Another way to measure unemployment is the labor force count (Worswick, 1991, p.15). This way is quite reliable than the first one, only because this way, interviews with the help of people in measuring individuals who wish to do some ...
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“Unemployment in the UK Essay Example | Topics and Well Written Essays - 1500 Words”, n.d. https://studentshare.net/miscellaneous/404002-unemployment-in-the-uk.
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