Many African countries are struggling with the level of unemployment especially

Question

Many African countries are struggling with the level of unemployment especially youth unemployment. In Zambia the government has come up with various initiatives to combat youth unemployment such as the youth fund.

Define and calculate the unemployment rate for Zambia given the information below:                                                                                                       

Number of inhabitants:       10 million

Labour-force participation: 62 %

Unemployed persons:        455'000

Using the information in

(a) calculate the participation rate and define it.

List and briefly explain any four types of unemployment.       

Explanation / Answer

a)unemployment=number of unemployed person÷laborforce

=455000÷10455000=4.35%

Labor force participation rate=laborforce÷adult population

Labor non participation rate=100%-62%=38%

Adultpopulation =laborforce+labor non participation=10455000+3800000=14255000

Therfore,labor particpation rate=10455000÷14255000=73%

b)There are four types of unemployment they are:

1.STRUCTURAL

2.FRICTIONAL

3.CYCLICAL

4.SEASONAL

STRUCTURAL ÙNEMPLOYMENT:It is caused by a mis match between a person skills and the jobs that are available. If a person skills are no longer needed in an economy ,that person is structurallt unemployed. The classic example of this is a person whose job has been taken over by a machine

FRICTIONAL UNEMPLOYMENT:Is the sort that happens when are looking for the ideal job. A person is frictionally unemployed if they have been fired for being vad at their job.they are looking for a job they can do well. A person is frictionally unemployed if they have quit their job to look for one they like better.

CYCLIC UNEMPLOYMENT:Is the sort that is caused by bad economics times .Here, a person is good at their job and their job would be needed in our economy except for the fact that times are bad.THis would be some one like an an auto worker who is laid off because the company is not selling enough cars

SEASONAL UNEMPLOYMENT:It happens when a person job is only available at certain times of year .Agriculture ana constuction are classic examples of these .These are jobs that can typically be done only at a certain time of year

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