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Unformatted text preview: condition of unemployment in the sense they are either seeking jobs or they are voluntarily unemployed. Such a percentage (of about 3 to 4 of the total working force) is considered the natural rate of unemployment. Public authority need not introduce any special measures to deal with such unemployment. If we assume 3 percent as a natural rate of unemployment then in the example, above 2 percent (5-3) can be said to be net unemployment of involuntary type and requires quick remedial measures. Though public unemployment programs are primarily targeted against involuntary unemployment, other forms of unemployment may also derive some indirect relief from such activities....
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This note was uploaded on 11/17/2011 for the course EC ec 201 taught by Professor - during the Fall '10 term at Montgomery.
- Fall '10