Presentation on theme: "Grade 10. Social economics may refer broadly to the use of economics in the study of society Social economics is a discipline studying the reciprocal."— Presentation transcript:
Social economics may refer broadly to the use of economics in the study of society Social economics is a discipline studying the reciprocal relationship between economic science on the one hand and social philosophy, ethics and human dignity on the other. Socio economic issues are the issues that relate to or involve both economic and social factors.
Unemployment can be defined as an economic condition marked by the fact that individuals actively seeking jobs remain un-hired. Unemployment is expressed as a percentage of the total available work force. The level of unemployment varies with economic conditions and other circumstances. Unemployment is defined as a situation where someone of working age is not able to get a job but would like to be in full time employment.
Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequently cited measure of unemployment is the unemployment rate. Unemployment describes the state of a worker who is able and willing to take work but cannot find it. As indicated by the unemployment rate and other yardsticks, unemployment is an important measure of the economys strength.
In a modern economy unemployment has a variety of causes. Some of them relate to the general level of economic activity, others are the result of a failure of the labour market in an economy to work optimally.
Causes of unemployment are varied and it may be due to the following factors – Rapid changes in technology Recessions Inflations Disability Undulating (moving up and down) business cycle Changes or alterations in climatic conditions
Attitudes towards employers Willingness to work Perception of employees Employee values Discriminating factors in the place of work (this may include discrimination on the basis of age, class, ethnicity, colour and race) Ability to look for employment
Cyclical unemployment goes hand in hand with the business cycle. Higher the GDP, lower will be the cyclical unemployment at the peak of the business cycle and the vice versa is true, when the economy is in the trough of the business cycle If cyclical unemployment rate stretches for an extended period, it may cause irreparable damage to the labour force in the country
It is a well known fact that everyday new products are being launched in the market. As a result, the demand for certain goods and services also changes. This leads to increase in the unemployment rate in certain sectors of the economy and creates jobs in yet others. Under these circumstances, re-employment may be possible if the worker relocates or migrates to other sectors which are in demand.
If there are undulations in the agricultural sector (due to factors like low production, drought, famine or natural disaster), the effects are felt in agribusiness. This may also be regarded as one of the factors in unemployment.
Hard core unemployment usually results when a worker is disabled and is not in a position to work The worker may also give up his job after a few days due to dissatisfaction Unemployment at any given point of time maybe either due to one of the factors mentioned above or a combination of several factors(mentioned above). If the labour market in the economy does not work in one optimum manner, it leads to unemployment.
Having a good education system is a way of alleviating unemployment. Make it easier for small businesses to start up and for all businesses of all sizes to hire people Government could also try support struggling industries in order to save jobs. Provide more training and education to the unemployed. Make more information available in job centres
The government needs to try to create demand in the economy and it could do this by giving grants to businesses to produce more goods, have projects such as road building, cut interest rates and income tax to encourage spending.