Description: India Needs Jobs! | Reality of Unemployment Crisis | Dhruv Rathee, Jobs report: U.S. unemployment rate rises to 2-year high, Do NOT make this mistake when applying for unemployment, Why it's getting hard to find a job | The Business | ABC News
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Unemployment occurs when people who are without work are actively seeking work. The unemployment 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 International Labour Organization report, more than 200 million people globally or 6% of the world's workforce were
There remains considerable theoretical debate regarding the causes, consequences and solutions for unemployment. Classical economics , New classical economics , and the Austrian School of economics argue that market mechanisms are reliable means of resolving unemployment. These theories argue against interventions imposed on the labor market from the outside, such as unionization, bureaucratic work rules, minimum wage laws , taxes, and other regulations that they claim discourage the hiring of workers.
U.S. hiring surged well beyond analysts' expectations last month, and the unemployment rate fell to its lowest level since 1969. Javier David, CBS News contributor and managing editor of business and markets for Axios, joins Anne-Marie Green and Janet Shamlian to break down the January jobs report. #news #economy #jobs CBS News Streaming Network is the premier 24/7 anchored streaming news service from CBS News and Stations, available free to everyone with access to the Internet. The CBS News Streaming Netwo