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Skills Mismatch
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 collap ... [...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 chooses not 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 macroeconomics, 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 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Collapse Of The Soviet Union
The Soviet Union was formally dissolved as a sovereign state and subject of international law on 26 December 1991 by Declaration No. 142-N of the Soviet of the Republics of the Supreme Soviet of the Soviet Union. Declaration No. 142-Н of the Soviet of the Republics of the Supreme Soviet of the Soviet Union, formally establishing the dissolution of the Soviet Union as a state and subject of international law. It also brought an end to the Soviet Union's federal government and General Secretary (also President) Mikhail Gorbachev's 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 15 top-level republics that served as the homelands for different ethnicities. By late 1991, amid a catastrophic political crisis, with several republics alre ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Madrid
Madrid ( ; ) is the capital and List of largest cities in Spain, most populous municipality of Spain. It has almost 3.5 million inhabitants and a Madrid metropolitan area, metropolitan area population of approximately 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, second-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 at about above mean sea level. The capital city of both Spain and the surrounding Community of Madrid, autonomous community of Madrid (since 1983), it is also th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Hysteresis (economics)
In economics Economics () is a behavioral science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interac ..., hysteresis consists of effects that persist after the initial causes giving rise to the effects are removed. (This term comes from the Greek ''hysterēsis'', from hystereō, "(I) lag behind, come later than".) Two of the main economics areas where hysteresis effects are invoked for explaining phenomena are unemployment and international trade. For example, 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; this is commonly referred to as the natural rate of unemployment or non-accelerating inflation rate of unemployment ( NAIRU). Implication for statistical characterization of unemployment ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Poverty
Poverty is a state or condition in which an individual lacks the financial resources and essentials for a basic standard of living. Poverty can have diverse Biophysical environment, environmental, legal, social, economic, and political causes and effects. When evaluating poverty in statistics or economics there are two main measures: ''absolute poverty'' which compares income against the amount needed to meet basic needs, basic personal needs, such as food, clothing, and Shelter (building), shelter; secondly, ''relative poverty'' measures when a person cannot meet a minimum level of living standards, compared to others in the same time and place. The definition of ''relative poverty'' varies from one country to another, or from one society to another. Statistically, , most of the world's population live in poverty: in Purchasing Power Parity, PPP dollars, 85% of ... [...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. When the results are not detrimental but beneficial, the term virtuous cycle is used instead. Examples 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 drop ... [...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 definitions of the seasons. The Northern Hemisphere experiences most direct sunlight during May, June, and July (thus the traditional celebration of Midsummer in June), as the hemisphere faces the Sun. For the Southern Hemisphere it is instead 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 increase ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Dot-com Bubble
The dot-com bubble (or dot-com boom) was a stock market bubble that ballooned during the late-1990s and peaked on Friday, March 10, 2000. This period of market growth coincided with the widespread adoption of the World Wide Web and the Internet, resulting in a dispensation of available venture capital and the rapid growth of valuations in new dot-com Startup company, startups. Between 1995 and its peak in March 2000, investments in the NASDAQ composite stock market index rose by 80%, 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, notably Pets.com, Webvan, and Boo.com, as well as several communication companies, such as Worldcom, NorthPoint Communications, and Global Crossing, failed and shut down. Others, like Lastminute.com, MP3.com and PeopleSound were bought out. Larger companies like Amazon (company), Amazon and Cisco Systems lost large portions of their market capitalizati ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Resort Town
A resort town, 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, Katherine. "Chandle ... [...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, 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 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 challenges and marginal working conditions, many l ... [...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 definitions of the seasons. The Northern Hemisphere experiences most direct sunlight during May, June, and July (thus the traditional celebration of Midsummer in June), as the hemisphere faces the Sun. For the Southern Hemisphere it is instead 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 increase ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Heterosexism
Heterosexism is a system of attitudes, bias, and discrimination in favor of heterosexuality and heterosexual 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 o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
