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The Unemployment Rate - Online Term Paper

The Unemployment Rate


Introduction
became a hot topic in the past few months when it rose to
3.5 per cent, a recent high for almost 10 years. The jobless rate was higher
than the 3.2 per cent unemployment rate recorded in the May to July period. The
underemployment rate in the June to August period rose to 2.5 per cent from 2.3
per cent in the May to July period. Until recently, most workers who lost their
jobs were from the manufacturing sector. They were middle-aged factory workers
with few skills and little education. But in recent months a large number of
employees have been laid off in the retail and restaurant businesses.
Unemployment has spilled over to the service sector from manufacturing sector.
Hong ...

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of crime. There
was an unemployed man who stole rice because he was too hungry and he did not
have money to even buy food! We can know how serious the unemployment rate is.

By the way, higher unemployment rate causes lower purchasing power of people. A
lot of kinds of business are affected. Many people lose confidence in economics
of Hong Kong. They do not believe unemployment will be improved. Some say that
the Government should provide immediate assistance for the jobless. Some also
say unemployment is due to the attraction of cheap labor across the border. The
Government can no longer play the role of a bystander.

All of these above show the influence of the unemployment. In spite of how many
people who have talked about the topic of unemployment, everyone will be
concerned about this topic. The following sections will analyze this hot topic.
Reasons for unemployment in Hong Kong

1. Faster growth in total labor supply relative to that of total employment

In 1993 and 1994, the ...

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year. Of the total employment of different sectors, the portion of the
manufacturing industries drops from 27.4% in 1990 to 17% in 1994. Many labour
are released from the manufacturing industries. Though there are a great demand
of labour in the service sector, many of the unemployed still cannot find their
job because of job matching problem. They do not have the skills demanded in the
job market, so there are both a lot of vacancies of jobs and a lot of unemployed
labour. This kind of unemployment is called the structural unemployment which is
a kind of involuntary unemployment.

3. China Policy

Recently, the Chinese government tries to control the economy by macro policy
such as ...

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The Unemployment Rate. (2007, March 27). Retrieved May 19, 2024, from http://www.essayworld.com/essays/The-Unemployment-Rate/62442
"The Unemployment Rate." Essayworld.com. Essayworld.com, 27 Mar. 2007. Web. 19 May. 2024. <http://www.essayworld.com/essays/The-Unemployment-Rate/62442>
"The Unemployment Rate." Essayworld.com. March 27, 2007. Accessed May 19, 2024. http://www.essayworld.com/essays/The-Unemployment-Rate/62442.
"The Unemployment Rate." Essayworld.com. March 27, 2007. Accessed May 19, 2024. http://www.essayworld.com/essays/The-Unemployment-Rate/62442.
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PAPER DETAILS
Added: 3/27/2007 06:07:47 PM
Category: Economics
Type: Premium Paper
Words: 4371
Pages: 16

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