The Concept of Unemployment

Based on quiz, ppt, notebook, book

Labor Force

•  employed or unemployed and actively seeking work. 

• generally includes individuals aged 15 and above who are willing and able to work.

• excludes those not looking for work, such as full-time students, retirees, and stay-at-home parents.

Labor Force Participation Rate

• percentage of the total working-age population that is part of the labor force

• measures how much of the available "human resource" is either working or trying to find work

UNEMPLOYMENT

Happens when people who are able and willing to work cannot find a job

Employed

• Has a regular job

• Exampels are: Office worker, Vendor

Underemployed

• Has a job but not enough hours/pay

• Examples are: Farmer seeking side work

Unemployed

• looking

• Fresh graduates job-hunting

Economic Recession

• A factor of unemployment

• Slow business growth leads to layoffs or hiring freezes

• A significant decline in economic activity across the country that lasts for several months

Lack of a comprehensive and long-term plan for job creation

• Factor of unemployment

• This occurs when the government or leaders do not have a clear strategy to build new industries or support growing businesses, leading to a shortage of new roles for the workforce

• Temporary Jobs

Rapid Population Growth

• Factor of unemployment

• When the number of people entering the workforce grows faster than the economy can create jobs, it leads to high competition and higher unemployment rates

• Higher competition due to more more applications

Lack of job opportunities in provinces

• Factor of unemployment

• obs are often concentrated in big cities. This forced migration leaves rural areas underdeveloped and overspreads resources in urban centers

• Forces people to go cities since there’s more opportunities there

Mismatch of skills and job openings

• Factor of unemployment

• This happens when the skills workers have (e.g., farming) do not match the skills employers need (e.g., tech or engineering). It results in many people being "unemployable" despite having an education

• Skills do not match with what they applied for

Non-payment of proper wages to workers, few benefits, and poor working conditions

• factor of unemployment

• When jobs do exist but pay too little to live on or are unsafe, workers may leave the workforce or migrate elsewhere, causing instability in the local economy

• poor working conditions and no proper wages

Laziness

• Factor of unemployment

• This refers to a lack of individual motivation or "work ethic" to seek out or maintain employment, though it is often considered a minor factor compared to systemic issues

• A person has physical ability to work but chooses not to look for a job due to lack of motivation

Onslaught of calamities

• Factor of unemployment

• Natural disasters like typhoons, earthquakes, or floods can destroy businesses, farms, and infrastructure, wiping out thousands of jobs in an instant

A complicated process of establishing a business

• Factor of unemployment

• When "red tape" (excessive regulations, high fees, or confusing paperwork) makes it difficult for people to start their own companies, it slows down job growth

Corruption in the government

• Factor of unemployment

• When public funds meant for infrastructure, education, or business grants are stolen or misused, it cripples the country’s ability to grow and provide for its citizens

Poor access to quality education or training

• Factor of unemployment

• If people cannot get a good education, they lack the foundational skills needed for modern jobs, keeping them stuck in low-paying or temporary work

Brain Drain

• Factor of unemployment

  This is the "export" of a country’s best talent. It happens when highly skilled professionals (doctors, engineers, scientists) move abroad for better opportunities

Personal Level

• Effect of unemployment

• Stress, low self-esteem, depression (mental health gets worse)

Family Level

• Effect of unemployment

• Financial problems, school dropouts

Society Level

• Effect of unemployment

• increase in crime, poverty, informal settlers, weak economy

Contrctualization (endo)

Hiring employees for short term contracts (usually 5-6 months) then terminating them right before they are entitled to mandatory benefits or permanent status

Brain drain

The emigration of highly trained or intelligent people from a particular country