Unemployment refers to people who want to work and are actively seeking a job, but are not currently employed there will also be some unemployment as people quit their current positions and seek new ones, and as some companies reduce their work force while others are expanding.
The mysterious case of the missing candidates nearly eight million us jobs were lost during the great recession of 2008-2009, with unemployment peaking at 10% in october 2009, according to the bureau of labor statistics (bls. Introduction to unemployment more featuring david sharp» , minimum wage» by david sharp, founding president of the australian adam smith club (melbourne) and author of economic simplicities. The federal-state unemployment insurance system (ui) helps many people who have lost their jobs by temporarily replacing part of their wages while they look for work created in 1935, it is a form of social insurance in which taxes collected from employers are paid into the system on behalf of working people to provide them with income support if they lose their jobs.
Youth unemployment introduction youth unemployment, which encompasses individuals in the age range of 15 to 24, is the demographic that is the most likely to be unemployed this can often be attributed to the difficult time youth may have transitioning from school to work, especially for those who have neither experience nor education to secure a job in the current labor market.
This paper describes the evolution of unemployment in recent years (the rate of unemployment occurrences and average unemployment duration) and highlights variation in unemployment by gender, age, ethnicity and educational attainment using national data it then demonstrates the wide variation in receipt of unemployment insurance (ui) benefits by states. The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.