The teaching plan of the practical lesson №1

(2.26)   I went to lock the gate. When I got there, I found somebody had
already DONE so.

UNEMPLOYMENT

Unemployment

 

MATERIALS TO UNDERSTAND: Reading comprehension

Unemployment, according to the Organisation for Economic Co-operation and Development (OECD), is when persons above a specified age (usually above 15)  are not in paid employment or self-employment and are currently available for work during the reference period.Unemployment is measured by the unemployment rate as the number of persons who are unemployed as a percentage of the labour force (the total number of people employed plus unemployed).

Unemployment can have many sources like this:

·         new technologies and inventions

·         the status of the economy which could be influenced by a recession

·         competition due to globalization and international trade

·         policies of the government

·         regulation and market

Unemployment and the status of the economy can be influenced by a country through for example fiscal policy. Furthermore, the monetary authority of a country like the central bank could influence the availability and cost for money through its monetary policy. In addition to theories of unemployment, there are a few categorizations of unemployment that are used to more precisely model the effects of unemployment within the economic system. Some of the main types of unemployment include structural unemployment and frictional unemployment, as well as cyclical unemployment, involuntary unemployment, and classical unemployment. Structural unemployment focuses on foundational problems in the economy and inefficiencies inherent in labor markets, including a mismatch between the supply and demand of laborers with necessary skill sets. Structural arguments emphasize causes and solutions related to disruptive technologies and globalization. Discussions of frictional unemployment focus on voluntary decisions to work based on each individuals' valuation of their own work and how that compares to current wage rates plus the time and effort required to find a job. Causes and solutions for frictional unemployment often address job entry threshold and wage rates.172 Million people globally or 5% of the reported workforce of the world were without a job in 2018 according to the International Labour Organization (ILO).Because of the difficulty to measure the unemployment rate by for example using surveys like in the United States of America (USA) or through registered unemployed citizens like in some European countries, statistical figures like the employment-to-population ratio could be better suited to evaluate the status of the labor force and the economy if they would be based on people who are registered as for example taxpayer.