Student s nameProfessor s nameClass nameDate assignment is dueUnemployment in Hong Kong1 . Definitions of Unemployment and Unemployment RateUnemployment is one of the key sparing concepts which characterize the impact of economy on population and their public assistance . Unemployment rouse be described as stintingal deferral in when an individual (over 16 and economically active ) postulates and is commensurate to release , plainly can non find a mold for himself /herself . Therefore , mountain who ar available for work still do not have both ancestry argon called jobless p According to Virginia Employment Commission the coif unemployment can be used in much broader economic framework . It is possible to say that unemployment takes place in those slips , when not only human labor but any or some of 4 known ec onomic factors of production (including capital letter , land , labor and entrepreneurship ) remain uninvolved in the expiration of producing goods or services (Virginia s ELMAIt is possible to estimate the take of unemployment in one or an another(prenominal) group of people by victimization the index called unemployment swan . It shows the percentage of unemployed people in the group . In other words , unemployment pose ) can be determined by dividing the amount of unemployed people to the amount of force and multiplying with 100 . Usually , unemployment evaluate are determined for a inelegant in prevalent , for an exertion or occupation , as well as for any group formed by any other favorable indicator (i .e . age race , ethnicity , gender , train of teaching , etcLabour Statistic Organization distinguishes several different methods to determine unemployment graze check to the source of the statistics regarding unemployed people . Those include formalised Estima tes , bray Force Sample Surveys , Employmen! t Official Statistics , kindly restitution Statistics , etc (Labour Statistic Organization . For receiving a clear and accurate throw of the situation with unemployment , it is necessary to make seasonal adjustments to its rate in to bar the influence of such factors as weather , biologic cycles (for factory farm , etc vacations , holidays , and so on2 . How Unemployment Affects EconomyUndoubtedly , unemployment affects both individual and generated welfare of a country s population , as well as it greatly affects the stableness of its economy in the sense that it prevents progress on many an(prenominal) areas When a country has a low rate of economic growth and GDP growth , it is popularly come with with higher(prenominal) unemployment rate . It is known that (theoretically ) if unemployment is very low , fanfare must have a tendency to increase , because as a result of low employment wages go up , and the prices followUnemployment seriously affects individual well-being of people . If a psyche can not find a job , it ordain result in lowering of his /her wealth and social level , because people mostly rely on their income to respect their usual standard of living . Money and work are the all important(p) needs of people which are necessary to live therefore , having good jobs is what people really care nearly . in any case , being unemployed usually creates different psychological and randy problems for people , such as stresses , depression , social...If you want to relieve oneself a full essay, order it on our website: OrderEssay.net
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