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Consider the reasons as to why unemployment rates are so high in Europe. What policies might be appropriate to reduce European Unemployment?
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Consider the reasons as to why unemployment rates are so high in Europe. What policies might be appropriate to reduce European Unemployment? There are varying types of unemployment, each with their own causes. 1) Frictional unemployment normally results from job seeking when the market is in a state of full-employment. Those people who are in the process of moving from one job to another and who therefore appear in the unemployment statistics collected at any given time are frictionally unemployed. 2) Structural unemployment is unemployment arising from changes in demand or technology, which lead to an oversupply of particularly skills or in particular locations. Structural unemployment does not result from an overall deficiency of demand and so therefore cannot be cured by lowering inflation to stimulate in an attempt to stimulate demand. Instead it can only be cured by retraining or relocation of the affected work...
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