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Year 10 GCSE Economics Unemployment. s-13067078 Current news.

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Presentation on theme: "Year 10 GCSE Economics Unemployment. s-13067078 Current news."— Presentation transcript:

1 Year 10 GCSE Economics Unemployment

2 http://www.bbc.co.uk/news/busines s-13067078 Current news

3 Main types of unemployment Cyclical Frictional Structural Seasonal

4 Cyclical

5 Main types of unemployment Frictional - When somebody loses their job (or chooses to leave it), they will have to look for another one Structural - When workers have outdated skills no longer required by industry e.g. coal and steel industries. Change in demand for goods and services produced by particular sectors e.g. cars Seasonal - where people are not able to find jobs during some months of the year e.g. ski instructors, farm workers, Santa!

6 What type of unemployment are each of the following A UK hotel worker laid off in the winter Coal mine closing permanently and workers made redundant George Clooney spends a month unemployed in-between films Car worker laid off because orders for new cars decline A ‘mum’ looking for a job after having 2 years off with her baby Real Estate agents losing job due to downturn in Dubai

7 Costs of Unemployment to the individual Monetary Non Monetary Family BreakdownHealthLoss of Skills

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