THE EDITOR: Simply put, unemployment occurs when workers who want to work are unable to find jobs.
High rates of unemployment signal economic distress.
Low rates of unemployment signal an overheated economy.
Unemployment can be classified as frictional, cyclical, structural, institutional.
My unemployment rate formula is the number of unemployed people in TT divided by the total number of workers available in the labour force.
AV RAMPERSAD
Princes Town
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