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Running Head: UNEMPLOYMENT 1

UNEMPLOYMENT 2

Unemployment

Unemployment is a term that is used to describe a situation where people seek jobs but are unable to find any (Axelrad et al, 2018). The rate of unemployment in a country can be used to measure its economic health. The higher the number of unemployed people in a country, the less the economic production (Feng et al, 2018). A person can be unemployed either voluntarily when they leave their job to look for a better one or involuntary when they leave there are fired or laid off from work. Various types of unemployment are characterized by the individual causes of unemployment (Axelrad et al, 2018). Unemployment is more than just a financial problem to society because it causes both physical and mental health problems (Krug et al, 2019). Further research is important to establish the root causes of unemployment and its effects. This will form a basis for further research to determine how this problem can be solved. The ethical implications in this research include seeking informed consent, beneficence, and confidentiality. Unemployment and lack of economic opportunity have social consequences creating anxiety and added stress because it allows for reduced economic growth and directly influences our society's mental, physical, and emotional wellbeing.

Annotated bibliography

Axelrad, H., Malul, M., & Luski, I. (2018). Unemployment among younger and older individuals: does conventional data about unemployment tell us the whole story?. Journal for labor market research, 52(1), 1-12. Retrieved from https://labourmarketresearch.springeropen.com/articles/10.1186/s12651-018-0237-9

The purpose of this paper was to analyze the unemployment of young people and old workers, how easy it is for them to get jobs, and the various factors that make it difficult for them to get jobs. The researchers conducted a survey that consisted of 104, 055 participants. The authors found that workers between 30-44 years were more likely to find employment than those over the age of 45 years. The researchers also established that workers under the age of 45 are usually unable to find employment due to their age. On the other hand, workers below the age of 40 are usually unable to find employment due to the business cycle. This source contributes to the solution of the global issue because to formulate an effective solution, it is important to understand the barriers to employment that are facing people in search of jobs. Also, understanding the different challenges that different people face is important.

Feng, Y., Lagakos, D., & Rauch, J. E. (2018). Unemployment and development (No. w25171). National bureau of economic research. Retrieved from https://www.nber.org/papers/w25171

The purpose of this paper is to determine how income per capita influences the unemployment rate in a country. The authors of this article conducted a household survey to collect data to show that unemployment increases with GDP per capita. From their survey which was conducted in various countries, the authors established that the productivity levels of countries differ and as the productivity rises, the rate of overall unemployment in the country rises. The authors also established that the low-educated workers in a country are the most affected by the rate of unemployment. This source contributes to the solution of the global societal issue by enabling us to understand the causes of unemployment. By understanding how the GDP per capita affects the unemployment rate, a country can find effective solutions for unemployment. Also by understanding how the various groups of workers are affected, it is possible to come up with solutions that will benefit all the groups.

Krug, G., Drasch, K., & Jungbauer-Gans, M. (2019). The social stigma of unemployment: consequences of stigma consciousness on job search attitudes, behavior and success. Journal for Labour Market Research, 53(1), 1-27. Retrieved from https://link.springer.com/article/10.1186/s12651-019-0261-4

The purpose of this paper was to investigate the unemployed expect to be stigmatized (stigma consciousness) and how these stigma expectations can affect their behaviors and attitudes during a job search. The authors conducted a panel study and from the data, they established that high stigma consciousness among the unemployed affects their health and wellbeing. The research also found that the stigmatized unemployed people feel that they have low chances of re-employment and often increase their efforts in job searching as compared to other unemployed people. According to this research, unemployed people who are stigma conscious do not have better chances of re-employment. This article contributes to the solution of the problem by providing knowledge on one of the barriers to re-employment, that is, stigma consciousness. It is through understanding the barriers to the elimination of unemployment that an effective solution to the problem can be generated. This article discusses one of the factors that are likely to hinder the efforts of eliminating unemployment.

Sahnoun, M., & Abdennadher, C. (2019). The nexus between unemployment rate and shadow economy: a comparative analysis of developed and developing countries using a simultaneous-equation model (No. 2019-30). Economics Discussion Papers. Retrieved from https://www.econstor.eu/handle/10419/196127

The purpose of this article was to determine the effects and the causal link between the unemployment rate and the shadow economy. The authors used panel data from 38 developing countries and 40 developed countries to investigate this. The results indicated that there was a difference in causality between the two variables in developing and developed countries. While the authors found a unidirectional and negative causal relationship between the two variables in developing countries, there was a bidirectional and negative causal relationship between the variables in developed countries. The authors established the quality of the institution influenced the relationship between the shadow economy and the rate of unemployment. This source contributes to the solution of the global issue by outlining how the shadow economy relates to the rate of unemployment. By indicating that this relationship varies among countries, the source helps us to understand that no common solution for unemployment can be generated globally.

Voßemer, J., Gebel, M., Täht, K., Unt, M., Högberg, B., & Strandh, M. (2018). The effects of unemployment and insecure jobs on well-being and health: The moderating role of labor market policies. Social Indicators Research, 138(3), 1229-1257. Retrieved from https://link.springer.com/article/10.1007/s11205-017-1697-y

The purpose of this article is to investigate how labor market policies and laws on employee protection influence unemployment and insecure jobs. The researchers conducted a social survey in 26 countries and involved a total of 89000 people. The research indicated that labor market policies shape the unemployment experiences but have no effect on insecure jobs. The researchers also established that unemployment has negative effects on wellbeing but not on health. It also established that countries with higher protection of insiders and no restrictions on temporary employment increase the effects of unemployment on health and wellbeing. This source contributes to the solution of the global problem because it shows how policies and laws on labor influence unemployment. This knowledge can help a country in coming up with the best solution to its unemployment problem. Understanding that unemployment affects wellbeing also shows how serious this problem is and therefore necessitates the formulation of a quick problem.

References

Feng, Y., Lagakos, D., & Rauch, J. E. (2018). Unemployment and development (No. w25171). National bureau of economic research. Retrieved from https://www.nber.org/papers/w25171