A mine worker was retrenched because the gold mine he worked for reduced production due to a dropin the gold price...in what type of unemployment does he/she fall under????!
Answers
Answered by
2
Many mine workers are getting retrenched because mines are not expecting a recovery in prices soon. Trade unions suspect lay\offs to curtail their negotaiation powers.
Wages will have to be reduced. But in a recession, if you cut wages, then spending will be reduced and this will reduce demand. So it has a spiralling effect.
Wages will have to be reduced. But in a recession, if you cut wages, then spending will be reduced and this will reduce demand. So it has a spiralling effect.
Similar questions