Unemployment

Hello everyone! I am Ashray. I am expressing my views on Unemloyment. Unemployment : Unemployment is the situation of actively looking for employment but not being currently employed. The Unemloyment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate. According to the International Labour Organization report, more than 200 million people globally or 6% of the world's workforce were without a job in 2012.The causes of unemployment are heavily debated. Classical economics, new classic economics, and the Austrian School economics argued that market mechanisms are reliable means of resolving unemployment. These theories argue against interventions imposed on the lab...