Essay on Unemployment. - Study Master.
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Statistics reveal that structural unemployment accounts more for the high levels of unemployment in the United States than cyclical unemployment. Structural unemployment arises due to technological or industrial changes in the employee’s area of specialization while cyclical unemployment arises due to demand for jobs going up and down, with the season of business such as peak and off-peak.
Unemployment seems to be a problem that is faced by many nations around the world. Whenever there is an economic downturn, people lose their jobs and unemployment rears its ugly head once more. An ever-recurring problem does not seem to have a proper solution. Although the economic situation in the world does have an effect on employment, its impact on individuals is varied.
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