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The Causes and Consequences of Unemployment

The causes and consequences of unemployment Unemployment causes There are three main causes of unemployment, the first is cyclical unemployment which is unemployment arising from a lack of aggregate demand. Demand for most products are likely to be low and unemployment may be high. Since not a lot of people are buying a product, firms do not need as much labour and will reduce it leading to unemployment. This in turn will lower disposable income and decrease demand for certain products, hence its cyclical title. While cyclical unemployment arises due to the demand of labour, problems may also arise from the supply of labour. It may be that although there are job vacancies, employers are unwilling to employ because the…