Ageing And Youth Unemployment "Unemployment refers to the condition of being unemployed, or to the number or proportion of people
Ageing And Youth Unemployment
“Unemployment refers to the condition of being unemployed, or to the number or proportion of people in the working population who are unemployed.” There are different types of unemployment, which includes frictional, structural, regional and cyclical unemployment. Frictional unemployment, the main type of unemployment is when people are between jobs. I am going to discuss the problems of ageing and youth employment and also the ways in which the government’s can respond to these problems.
“About 1.1 million companies, or 77 per cent of employers, hire fewer ethnic minority and older employees than they should based on the workforce composition in their location.” The experience of the seniors are a cause for them believing that they deserve higher wages. Furthermore all of that experience would go to waste if the seniors were to all of a sudden retire or chances of them passing away increase with age. There is also an increased costs that have to be paid by companies for due to the health insurance benefits and extra safety precautions, which need to be taken in the work place to ensure that the seniors do not have any accidents in the work place. Pension costs are another factor, which companies have to account for in their total costs. With age comes less productivity according to Doctor Manjula due to the deterioration of the workers health. There hasn’t been any real kind of shift of employment away from manual occupations due to the health related problems. According to Warr, “older workers demonstrate less absenteeism, lower turnover, fewer accidents, higher job satisfaction and more positive work values than younger workers.”