the fields of economy and sociology, unemployment is an important and
irreplaceable noun, which indicates that people in a particular country or area
who cannot get a job. Unemployment is primarily known as a phenomenon or a
consequence that individuals are in a state of being without work when a
country is experiencing a war or a period of recession. Furthermore, this word is
often expressed as a phrase unemployment rate, which is a measurement of
unemployment shows the percentage of unemployed people in a target region. Additionally,
it is notable that there are various types of unemployment in terms of economy.

The two common types of unemployment are “voluntary” and “involuntary
unemployment”. In economics literature, voluntary unemployment is based on individuals’
decisions, while involuntary unemployment is caused by external aspects. Unemployment
frequently appears in newspapers, reports, and other economy related articles
as a significant index for examining economic development level of a certain
region or a country. Finally, it is necessary for economists of each country to
examine the unemployment rate, for the level of unemployment usually describes
the economic situation of a country and helps governments to adjust their
economic structures.

We Will Write a Custom Essay Specifically
For You For Only $13.90/page!

order now