Problems of the Unemployed : And their solutions

The term unemployment refers to a situation when a person who is actively searching for employment is unable to find work. Unemployment is considered to be a key measure of the health of the economy. The most frequent measure of unemployment is the unemployment rate which is the number of unemployed people divided by the number of people in the labor force. Many governments offer unemployment insurance to certain unemployed individuals who meet eligibility requirements. Unemployment is a key economic indicator because it signals the ability (or inability) of workers to readily obtain gainful work to contribute to the productive output of the economy. This doesnt include people who leave the workforce for other reasons such as retirement higher education and disability. More unemployed workers mean less total economic production will take place than might have otherwise. Unemployed workers must maintain at least subsistence consumption during their period of unemployment. This means an economy with high unemployment has lower output without a proportional decline in the need for basic consumption. High persistent unemployment can signal serious distress in an economy and even lead to social and political upheaval.