Question

case study on unemployment​

Answer 1

Introduction

Unemployment is not only an economic issue but also a serious social problem of all countries, and especially of developing countries such as Vietnam, Cambodia, Laos … Labour is one of main inputs in production process and unemployment is synonymous with the waste of resources. Unemployment also impacts to poverty and inequality problems of economic development. Moreover unemployment is one of main factor in determining how healthy an economy is. Therefore, explaining unemployment is quite necessary to find causes and to control it.

Literature Review

The definition of unemployment

“The number of people who are actively looking for work but are currently without a job” [1] .

But not everyone without a job is counted as unemployed, it does not include children and pensioners. The economists usually explain unemployment as: “People in the working age are currently without a job and available for work at current wage rates” [2] .

Formula

Unemployment Rate = (Unemployed Workers / Total Labor Force) x 100

The unemployment rate is expressed as a percentage:

Example: The unemployed workers in Vietnam are 1.320.000 people and the total labor force is 44.000.000 people.

(1.320.000 / 44.000.000) x 100 = 3% (unemployment rate)

Causes of Unemployment

In the set up of a modern market economy, there are many factors contribute to unemployment. Causes of unemployment are varied and it may be due to the following factors:

Rapid changes in technology

Recessions

Inflation

Disability

Fluctuating business cycles

Changes in tastes as well as alterations in the climatic conditions. This may in turn lead to decline in demand for certain services as well as products.

Attitude towards employers

Willingness to work

Perception of employees

Employee’s values

Discriminating factors in workplace (may include discrimination on the basis of age, class, ethnicity, color and race).

Ability to look for employment

These causes of unemployment can be divided into two broad categories disequilibrium and equilibrium unemployment.

Answer 2

Answer:

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HERE IS YOUR ANSWER

The major growth in population between 1997 and 2007 has added a large number of labors to the country’s labor force, placing pressure on the Vietnam labor market. However, future population growth is not expected to be as high as the previous decade.

There has been strong growth in GDP with consequent employment gains and improved labor productivity, supporting poverty reduction efforts

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