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Structural Unemployment
Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap). Structural unemployment is often brought about by technological changes that make the job skills of many workers obsolete. Structural unemployment is one of three categories of unemployment distinguished by economists, the others being frictional unemployment and cyclical unemployment. Because it requires either migration or re-training, structural unemployment can be long-term and slow to fix. Causes and examples From an individual perspective, structural unemployment can be due to: * Inability to afford or decision not to pursue further education or job training. * Choice of a field of study which did not produce marketable job skills. * Inability to afford relocation. * Inability to relocate due to inability to sell a house (for example due to the coll ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Involuntary Unemployment
Involuntary unemployment occurs when a person is unemployed despite being willing to work at the prevailing wage. It is distinguished from voluntary unemployment, where a person refuses to work because their reservation wage is higher than the prevailing wage. In an economy with involuntary unemployment, there is a surplus of labor at the current real wage. This occurs when there is some force that prevents the real wage rate from decreasing to the real wage rate that would equilibrate supply and demand (such as a minimum wage above the market-clearing wage). Structural unemployment is also involuntary. Economists have several theories explaining the possibility of involuntary unemployment including implicit contract theory, disequilibrium theory, staggered wage setting, and efficiency wages. The officially measured unemployment rate is the ratio of involuntary unemployment to the sum of involuntary unemployment and employment (the denominator of this ratio being the total ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collapse Of The Soviet Union
The dissolution of the Soviet Union, also negatively connoted as rus, Разва́л Сове́тского Сою́за, r=Razvál Sovétskogo Soyúza, ''Ruining of the Soviet Union''. was the process of internal disintegration within the Soviet Union (USSR) which resulted in the end of the country's and its federal government's existence as a sovereign state, thereby resulting in its constituent republics gaining full sovereignty on 26 December 1991. It brought an end to General Secretary Mikhail Gorbachev's (later also President) effort to reform the Soviet political and economic system in an attempt to stop a period of political stalemate and economic backslide. The Soviet Union had experienced internal stagnation and ethnic separatism. Although highly centralized until its final years, the country was made up of fifteen top-level republics that served as homelands for different ethnicities. By late 1991, amid a catastrophic political crisis, with several republics alread ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madrid
Madrid ( , ) is the capital and most populous city of Spain. The city has almost 3.4 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 6.7 million. It is the Largest cities of the European Union by population within city limits, second-largest city in the European Union (EU), and its wikt:monocentric, monocentric Madrid metropolitan area, metropolitan area is the List of metropolitan areas in Europe by population, third-largest in the EU.United Nations Department of Economic and Social AffairWorld Urbanization Prospects (2007 revision), (United Nations, 2008), Table A.12. Data for 2007. The municipality covers geographical area. Madrid lies on the Manzanares (river), River Manzanares in the central part of the Iberian Peninsula. Capital city of both Spain (almost without interruption since 1561) and the surrounding Community of Madrid, autonomous community of Madrid (since 1983), it is also the political, economic and c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hysteresis (economics)
In economics, hysteresis (from Greek ''hysterēsis'', from hystereō, "(I) lag behind, come later than") consists of effects that persist after the initial causes giving rise to the effects are removed. Two of the main areas in economics where hysteresis effects are invoked to explain economic phenomena are unemployment and international trade. For instance, in labor economics hysteresis refers to the possibility that periods of high unemployment tend to increase the rate of unemployment below which inflation begins to accelerate, commonly referred to as the natural rate of unemployment or non-accelerating inflation rate of unemployment (NAIRU). Implication for statistical characterization of unemployment If the unemployment rate exhibits hysteresis, then it follows a statistically non-stationary process, because the expected value of the unemployment rate now and in the future permanently shifts when the rate itself changes. The process with hysteresis is a unit root proces ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is the state of having few material possessions or little income. Poverty can have diverse social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: '''' compares income against the amount needed to meet basic personal needs, such as [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Virtuous Circle And Vicious Circle
A vicious circle (or cycle) is a complex chain of events that reinforces itself through a feedback loop, with detrimental results. It is a system with no tendency toward equilibrium (social, economic, ecological, etc.), at least in the short run. Each iteration of the cycle reinforces the previous one, in an example of positive feedback. A vicious circle will continue in the direction of its momentum until an external factor intervenes to break the cycle. A well-known example of a vicious circle in economics is hyperinflation. A virtuous circle is an equivalent system with a favorable outcome. Examples Vicious circles in the subprime mortgage crisis The contemporary subprime mortgage crisis is a complex group of vicious circles, both in its genesis and in its manifold outcomes, most notably the late 2000s recession. A specific example is the circle related to housing. As housing prices decline, more homeowners go " underwater", when the market value of a home drops below ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seasonal Unemployment
A season is a division of the year based on changes in weather, ecology, and the number of daylight hours in a given region. On Earth, seasons are the result of the axial parallelism of Earth's tilted orbit around the Sun. In temperate and polar regions, the seasons are marked by changes in the intensity of sunlight that reaches the Earth's surface, variations of which may cause animals to undergo hibernation or to migrate, and plants to be dormant. Various cultures define the number and nature of seasons based on regional variations, and as such there are a number of both modern and historical cultures whose number of seasons varies. The Northern Hemisphere experiences most direct sunlight during May, June, and July, as the hemisphere faces the Sun. The same is true of the Southern Hemisphere in November, December, and January. It is Earth's axial tilt that causes the Sun to be higher in the sky during the summer months, which increases the solar flux. However, due to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dot-com Bubble
The dot-com bubble (dot-com boom, tech bubble, or the Internet bubble) was a stock market bubble in the late 1990s, a period of massive growth in the use and adoption of the Internet. Between 1995 and its peak in March 2000, the Nasdaq Composite stock market index rose 400%, only to fall 78% from its peak by October 2002, giving up all its gains during the bubble. During the dot-com crash, many online shopping companies, such as Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications, and Global Crossing, failed and shut down. Some companies that survived, such as Amazon, lost large portions of their market capitalization, with Cisco Systems alone losing 80% of its stock value. Background Historically, the dot-com boom can be seen as similar to a number of other technology-inspired booms of the past including railroads in the 1840s, automobiles in the early 20th century, radio in the 1920s, television in t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resort Town
A resort town, often called a resort city or resort destination, is an urban area where tourism or vacationing is the primary component of the local culture and economy. A typical resort town has one or more actual resorts in the surrounding area. Sometimes the term ''resort town'' is used simply for a locale popular among tourists. One task force in British Columbia used the definition of an incorporated or unincorporated contiguous area where the ratio of transient rooms, measured in bed units, is greater than 60% of the permanent population. Generally, tourism is the main export in a resort town economy, with most residents of the area working in the tourism or resort industry. Shops and luxury boutiques selling locally themed souvenirs, motels, and unique restaurants often proliferate the downtown areas of a resort town. In the case of the United States, resort towns were created around the late 1800s and early 1900s with the development of early town-making.Crewe, Ka ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Farm Worker
A farmworker, farmhand or agricultural worker is someone employed for labor in agriculture. In labor law, the term "farmworker" is sometimes used more narrowly, applying only to a hired worker involved in agricultural production, including harvesting, but not to a worker in other on-farm jobs, such as picking fruit. Agricultural work varies widely depending on context, Intensive farming, degree of mechanization and crop. In countries like the United States where there is a declining population of American citizens working on farms—temporary or itinerant skilled labor from outside the country is recruited for labor-intensive crops like vegetables and fruits. Agricultural labor is often the first community affected by the human health impacts of Environmental impact of agriculture, environmental issues related to agriculture, such as health effects of pesticides or exposure to other health challenges such as valley fever. To address these environmental concerns, immigration c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Seasonal Unemployment
A season is a division of the year based on changes in weather, ecology, and the number of daylight hours in a given region. On Earth, seasons are the result of the axial parallelism of Earth's tilted orbit around the Sun. In temperate and polar regions, the seasons are marked by changes in the intensity of sunlight that reaches the Earth's surface, variations of which may cause animals to undergo hibernation or to migrate, and plants to be dormant. Various cultures define the number and nature of seasons based on regional variations, and as such there are a number of both modern and historical cultures whose number of seasons varies. The Northern Hemisphere experiences most direct sunlight during May, June, and July, as the hemisphere faces the Sun. The same is true of the Southern Hemisphere in November, December, and January. It is Earth's axial tilt that causes the Sun to be higher in the sky during the summer months, which increases the solar flux. However, due to ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heterosexism
Heterosexism is a system of attitudes, bias, and discrimination in favor of female–male sexuality and relationships. According to Elizabeth Cramer, it can include the belief that all people are or should be heterosexual and that heterosexual relationships are the only norm and therefore superior. Although heterosexism is defined in the online editions of the ''American Heritage Dictionary of the English Language'' and the '' Merriam-Webster Collegiate Dictionary'' as anti-gay discrimination or prejudice "by heterosexual people" and "by heterosexuals", respectively, people of any sexual orientation can hold such attitudes and bias, and can form a part of internalised hatred of one's sexual orientation. Heterosexism as discrimination ranks gay men, lesbians, bisexuals and other sexual minorities as second-class citizens with regard to various legal and civil rights, economic opportunities, and social equality in many of the world's jurisdictions and societies. It is often ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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