Unemployment

Unemployment

Occurs when someone is willing and able to work but does not have a paid job.

Frictional Unemployment

Occurs when people voluntarily change jobs, usually short-lived and least problematic economically.

Cyclical Unemployment

Variation in the number of unemployed workers due to economic upturns and downturns, rising during recessions and declining during growth.

Structural Unemployment

Caused by a mismatch between the skills of the unemployed and the available jobs in the market.

Seasonal Unemployment

Occurs at specific times of the year when demand for labor is lower than usual, often affecting tourist areas.

Structural Underemployment

Highly skilled workers employed in low-paying or low-skilled jobs, not utilizing their full capabilities.

Causes of Unemployment

Fast population growth, excessive supply of labor force, and limited job opportunities.

Recession

A significant decline in economic activity, leading to increased unemployment.

structural

The process of teaching displaced workers new skills, which can be difficult, costly, and time-consuming.

Job Seeking

Actively looking for work, which is a requirement to be classified as unemployed.

contractualization

where a company hires workers on contracts instead of being hired as regular employees with the intention to increase profits.

Labor Code of the Philippines

A set of government policies that regulate employment and worker’s employment

Labor code of the philippines

A set of government policies that regulate employment and worker’s employment

Contractualization in the Philippines

In the Art. 106 of the Labor Code of the Philippines, it states the provision given to the DOLE Secretary to prohibit the contracting-out of labor in order to protect the rights of workers which the government under the current administration still permits

Brain Drain

can result from turmoil within a nation, the existence of favorable professional opportunities in other countries, or a desire to seek a higher standard of living.

Circumstances under the Labor Code which an employer may terminate the employment of a worker

Serious misconduct or willful disobedience

Gross and habitual neglect by the employee of his/her duties

Fraud or willful breach

Commission of a crime or offense

Society

Unemployed individuals not only lose income but also face challenges to their physical and mental health and Societal costs of high unemployment include higher crime and a reduced rate of volunteerism

Economy

Governmental costs go beyond the payment of benefits to the loss of the production of workers, which reduces the gross domestic product (GDP).