THE COST OF UNEMPLOYMENT

Authors

  • Abrorjon Habibullayev Ahmadali ugli The student of Namangan State University

Abstract

Losing a job can be the most distressing economic event in a person’s life. Most people rely on their labour earnings to maintain their standard of living, and many people get from their work not only income but also a sense of personal accomplishment. This article begins our study of unemployment. The problem of unemployment is usefully divided into two categories – the long-run problem and the short-run problem. In this chapter we discuss the determinants of the long-run problem – an economy’s natural rate of unemployment. As we will see, the designation natural does not imply that this rate of unemployment is desirable. Nor does it imply that it is constant over time or impervious to economic policy. It merely means that this unemployment does not go away on its own, even in the long run.

References

Bell, D. N. F., & Blanchflower, D. G. (2011). Young People and the Great Recession. Oxford Review of Economic Policy, 27(2), 241-267.

Stiglitz, J. E., & Weiss, A. (1981). Credit Rationing in Markets with Imperfect Information. American Economic Review, 71(3), 393-410.

Ruhm, C. J. (1991). Are Workers Permanently Scarred by Job Displacements? American Economic Review, 81(1), 319-324.

OECD. (2018). The Long-Term Cost of Youth Unemployment. OECD Economic Policy Papers, No. 23.

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Published

2023-06-18

How to Cite

Abrorjon Habibullayev Ahmadali ugli. (2023). THE COST OF UNEMPLOYMENT. INTERNATIONAL JOURNAL OF SOCIAL SCIENCE & INTERDISCIPLINARY RESEARCH ISSN: 2277-3630 Impact Factor: 8.036, 12(06), 121–124. Retrieved from https://gejournal.net/index.php/IJSSIR/article/view/1845