Monday, April 27, 2009

The rising spectre of unemployment

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As defined by the International Labor Organization, “unemployed workers” are those who are currently not working but are willing and able to work for pay, currently available to work, and have actively searched for work. The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed.
No Census has ever been conducted in any country of those who were employed and unemployed on any particular day so no accurate ratio can be finalized while some predictions can be made. More

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