Sustainable Leadership for Entrepreneurs and Academics by Wadim Strielkowski

Author:Wadim Strielkowski
Language: eng
Format: epub
ISBN: 9783030154950
Publisher: Springer International Publishing

3 Unemployment and Its Dreadful Implications

It is known that there is always a certain amount of unemployed people in the economy which is considered natural and healthy. In another words, not everyone wants or is prepared to work (even though the reasons might differ). When scientists are discussing these issues and their implications for business and trade, the issue referred to the workplace they consider that people who are able to work and would like to work they have to have got a job. Skilled workers that are not working or that are not satisfied with their wages that they are offered (Bordea et al. 2017).

However, economy is rarely able to achieve the full employment. There are a number of reasons for this event, so there are a number of different types of the unemployment. One of these is called the “cycle unemployment.” This type of the unemployment is able to vary, so there is the recession cycle of the economy. Provided that the economy may grow, the demand for labour will grow and the unemployment falls. If the economy has contracts, the unemployment is suddenly growing (Nordhaus 1975).

A second kind of the unemployment is called the “structural unemployment.” It is known that public is becoming changeable with its tastes or there is an advanced technology that can cause a fall in demand for some types of work. For instance, the computer technology has advanced some industries; so many traditional jobs are becoming outdated. Nevertheless, the whole regions of a country are suffered from the high structural unemployment. For example, despite the fact that British shipbuilding industries were outstanding for many years, it is commonly known that many dockyards were forced to be closed in case of the competitors from abroad. This fact is able to cause the huge unemployment in the region. Therefore, it should be noted that such cases of the structural unemployment are able to be repetitive in many countries. Provided there are new stated laws that are against it, the employers are able to open new vacancies for their employees, so the situation may be recovered (Jackman and Roper 1987).

How long the structural unemployment actually lasts might depend on a plethora of things and factors. However, the main issue actually is how easily the subordinates are able to retrain for new workplace. This may be difficult for other employees who find it hard to learn new skills. There has been up also the question that who is able to pay the training for these employees. Another issue of this problem is their mobility. If the employees are able to relocate themselves to another part of the country, they will find new jobs more quickly (Martin and Sunley 2015).

Perhaps, we should also mention that there are other kinds of the unemployment that are less serious, but they are still difficult for government tackle. The first is called the “frictional unemployment.” This is a kind of the unemployment that causes when someone leaves a job and is going to look for another one that suits better.

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