Economic Case

Introduction

As we know, unemployment is defined as a situation where someone of working age is not able to get a job but would like to be in full time employment. Sometime, we can analysis the economic situation by the condition of unemployment, so the experts of the government will pay more attention to situation of the unemployment for their country. And then they can seek the best ways to develop their country.

In this news, we can found the unemployment rate in Singapore declined to a 14-year low in 2011, as employment growth remained strong with 121,300 jobs created. This means when the economy registered double-digit growth, the number of the employment is slight higher than the 2010. As this situation, we can found the economic can cause the deeply influence for the unemployment. So as following, I will present the unemployment from many aspects with this news.

Discuss

To the unemployment, we can divide into many different types, which are frictional unemployment, structure unemployment and cyclical unemployment. As following, I will present these three types of unemployment one by one. At first, Frictional unemployment is unemployment caused by the normal search time required by workers with marketable skills who are changing jobs, initially entering the labor force, or reentering the labor force (Tucker, 2010, p170). This kind of unemployment can not avoid when they seek the chance to change the job. And sometimes this type of unemployment always happened because of the incomplete information, the employers can not understand the whole information about the employees and give up these employees. In addition, structure unemployment is the other kind of unemployment. Structure unemployment refers to workers who have lost their jobs because they have been displaced by automation, because their skills are no longer in demand (Baumol & Bilinder, 2011, p115). With the development of the society, almost all company will be attracted by the advance technology and knowledge. Once the employees can not take control the advance technology, even they have more experience, they also have the chance to be fired by the employers. On my mind, the last one is cyclical unemployment. The Cyclical unemployment is directly attributable to the lack of jobs caused by the business cycle. Cyclical unemployment is unemployment caused by the lack of jobs (Tucker, 2010, p172). In the different season, the companies have the different requirements for the employees. If the employees can not satisfy this requirement, they will lose the job because of the environment problems.