Description: India faces massive youth unemployment crisis | World Business Watch, World Business Watch: Unexpected drop in German unemployment, rate falls to 5.5% | WION, Why Youth Unemployment Is Surging In China, Solving global youth unemployment: Mona Mourshed at TEDxUNPlaza
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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.
China faces a series of challenges. record-breaking youth unemployment rates and major data falling short of expectations have cast a shadow on china's road to recovery. Youth unemployment has reached a record high, with rates soaring to 20.8% in may, surpassing the previous peak set just a month earlier. #china #chinaunemployment #businessnews About Channel: WION The World is One News examines global issues with in-depth analysis. We provide much more than the news of the day. Our aim is to empower people