This article explains the definition of unemployment. It also explains why a common sense approach to inferring this number can often produce incorrect results.
Articles on Unemployment
This article presents a first look at the downward spiral of unemployment. It offers a detailed explanation of the stages in this self reinforcing cycle.
This article provides an introduction about the various subsets that the general population is divided into for the purpose of calculation of the unemployment rate. It provides a critical analysis of the numerator and denominator used to calculate the ratio.
This article provides an example of how unemployment is calculated. It explains the difference between the common sense approach and the 4 step prescribed approach.
This article explains in detail, the relationship between minimum wage laws and the employment rate. It also explains as to why minimum wage can in fact work against the laborers.
This article tries to critically evaluate what the goal of an economy should be. It compares and contrasts the goals of zero unemployment and managed unemployment.
This article explains the famous discouraged worker flaw. It also explains with the help of an example as to how this causes the unemployment rate to be manipulated.
This article provides the definition of employment as stated by the government. It then exposes the fallacies that this definition has.
This article is a primer on the concept of frictional unemployment. It explains the features, causes and even suggests a cure for this kind of unemployment.
This article provides a primer on structural unemployment. It also highlights the contrast between structural and frictional unemployment.
This article explains the concept of cyclical unemployment. It explores the causes and cures of this type of unemployment while providing detailed information and examples on the same.
This article addresses the man vs. machine debate. It addresses the relationship between mechanization and unemployment and explains the same in a logical and easy to understand manner.
This article explains the rationale behind the use of government spending as a cure for unemployment. It then enumerates its pros and cons in this article.
This article explains the reason behind why zero unemployment should not be pursued as a goal within itself. It also explains that employment is a byproduct of efficient economic activity and should not be considered as independent.
This article makes an attempt to explain the link between happiness and economic variables. Various conjectures are explained in this article. The cause and effect relationship between economics and happiness is also spelled out in this article.
This article explains the concept of shadow labor or self-service. It explains how shadow labor has now become an important phenomenon that has competitive ramifications. It also explains the correct way to implement shadow labor. The limitations of self-service are also explained in this article.
This article explains the faulty premise of full employment. It explains how an attempt to simply create more jobs actually does more harm to the economy than good. It also explains why a free market that sets wage rates is preferred to government mandated minimum wage rates.
It is a fact that workers in the informal and agriculture sectors do not have work throughout the year. In addition, with the emergence of the gig economy, this has become the norm for skilled professionals as well. Thus, this seasonal nature of employment is the topic of this article which examines the problem from multiple perspectives and suggests some solutions as well as approaches that can ensure social stability.
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