PERFORMANCE TASK
IN
ARALING PANLIPUNAN
MS. JESICA B.
GALVE
A.P
TEACHER
ICARO, AUDWIN
JOUBERT A.
STUDENT
MR. ELJAY
GOMEZ
COMPUTER
TEACHER
UNEMPLOYED
UNEMPLOYED
UNEMPLOYMENT, ACCORDING TO THE OECD (ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT), IS PEOPLE ABOVE A SPECIFIED AGE
(USUALLY 15) NOT BEING IN PAID EMPLOYMENT OR SELF-EMPLOYMENT BUT CURRENTLY AVAILABLE FOR WORK DURING THE REFERENCE PERIOD.
UNEMPLOYMENT IS MEASURED BY THE UNEMPLOYMENT RATE, WHICH IS THE NUMBER OF PEOPLE WHO ARE UNEMPLOYED AS A PERCENTAGE OF
THE LABOUR FORCE (THE TOTAL NUMBER OF PEOPLE EMPLOYED ADDED TO THOSE UNEMPLOYED).
UNEMPLOYMENT CAN HAVE MANY SOURCES, SUCH AS THE FOLLOWING:
•
NEW TECHNOLOGIES AND INVENTIONS
•
THE STATUS OF THE ECONOMY, WHICH CAN BE INFLUENCED BY A RECESSION
•
COMPETITION CAUSED BY GLOBALIZATION AND INTERNATIONAL TRADE
•
POLICIES OF THE GOVERNMENT
•
REGULATION AND MARKET
UNEMPLOYMENT AND THE STATUS OF THE ECONOMY CAN BE INFLUENCED BY A COUNTRY THROUGH, FOR EXAMPLE, FISCAL POLICY. FURTHERMORE,
THE MONETARY AUTHORITY OF A COUNTRY, SUCH AS THE CENTRAL BANK, CAN INFLUENCE THE AVAILABILITY AND COST FOR MONEY THROUGH ITS MONETARY
POLICY.
IN ADDITION TO THEORIES OF UNEMPLOYMENT, A FEW CATEGORISATIONS OF UNEMPLOYMENT ARE USED FOR MORE PRECISELY MODELLING THE EFFECTS
OF UNEMPLOYMENT WITHIN THE ECONOMIC SYSTEM. SOME OF THE MAIN TYPES OF UNEMPLOYMENT INCLUDE STRUCTURAL UNEMPLOYMENT, FRICTIONAL
UNEMPLOYMENT, CYCLICAL UNEMPLOYMENT, INVOLUNTARY UNEMPLOYMENT AND CLASSICAL UNEMPLOYMENT. STRUCTURAL UNEMPLOYMENT FOCUSES ON
FOUNDATIONAL PROBLEMS IN THE ECONOMY AND INEFFICIENCIES INHERENT IN LABOR MARKETS, INCLUDING A MISMATCH BETWEEN THE SUPPLY AND
DEMAND OF LABORERS WITH NECESSARY SKILL SETS. STRUCTURAL ARGUMENTS EMPHASIZE CAUSES AND SOLUTIONS RELATED TO DISRUPTIVE
TECHNOLOGIES AND GLOBALIZATION. DISCUSSIONS OF FRICTIONAL UNEMPLOYMENT FOCUS ON VOLUNTARY DECISIONS TO WORK BASED ON INDIVIDUALS'
VALUATION OF THEIR OWN WORK AND HOW THAT COMPARES TO CURRENT WAGE RATES ADDED TO THE TIME AND EFFORT REQUIRED TO FIND A JOB. CAUSES
AND SOLUTIONS FOR FRICTIONAL UNEMPLOYMENT OFTEN ADDRESS JOB ENTRY THRESHOLD AND WAGE RATES.
ACCORDING TO THE UN'S INTERNATIONAL LABOUR ORGANIZATION (ILO), THERE WERE 172 MILLION PEOPLE WORLDWIDE (OR 5% OF THE REPORTED GLOBAL
WORKFORCE) WITHOUT WORK IN 2018.
BECAUSE OF THE DIFFICULTY IN MEASURING THE UNEMPLOYMENT RATE BY, FOR EXAMPLE, USING SURVEYS (AS IN THE UNITED STATES) OR THROUGH
REGISTERED UNEMPLOYED CITIZENS (AS IN SOME EUROPEAN COUNTRIES), STATISTICAL FIGURES SUCH AS THE EMPLOYMENT-TO-POPULATION RATIO MIGHT
BE MORE SUITABLE FOR EVALUATING THE STATUS OF THE WORKFORCE AND THE ECONOMY IF THEY WERE BASED ON PEOPLE WHO ARE REGISTERED, FOR
EXAMPLE, AS TAXPAYERS
Philippines Unemployment Rate
In the Philippines, the unemployment rate
measures the number of people actively
looking for a job as a percentage of the
labour force.
Actua Previ
l
ous
Highe Lowe
st
st
Dates Unit
6.50
17.60 4.59
7.40
1986
2021
Frequ
ency
perce Mont NSA
nt
hly
UNEMPLOYMENT RATE, PERCENTAGE OF UNEMPLOYED INDIVIDUALS IN AN ECONOMY AMONG INDIVIDUALS
CURRENTLY IN THE LABOUR FORCE. IT IS CALCUATED AS UNEMPLOYED INDIVIDUALS/TOTAL LABOUR FORCE × 100
WHERE UNEMPLOYED INDIVIDUALS ARE THOSE WHO ARE CURRENTLY NOT WORKING BUT ARE ACTIVELY SEEKING
WORK.
THE UNEMPLOYMENT RATE IS DETERMINED AT THE NATIONAL LEVEL AND AT STATE OR REGIONAL LEVELS VIA LABOURFORCE SURVEYS CONDUCTED BY THE NATIONAL STATISTICAL INSTITUTE IN EACH COUNTRY. ORGANIZATIONS SUCH AS
THE ORGANISATION FOR ECONOMIC CO-OPERATION AND DEVELOPMENT (OECD), THE INTERNATIONAL MONETARY
FUND (IMF), AND THE WORLD BANK ALSO CALCULATE AND RECORD THE NATIONAL UNEMPLOYMENT RATES OF LARGE
NUMBERS OF COUNTRIES THROUGHOUT THE WORLD ON AN ONGOING BASIS.
THE UNEMPLOYMENT RATE IS ONE OF THE PRIMARY ECONOMIC INDICATORS USED TO MEASURE THE HEALTH OF AN
ECONOMY. IT TENDS TO FLUCTUATE WITH THE BUSINESS CYCLE, INCREASING DURING RECESSIONS AND DECREASING
DURING EXPANSIONS. IT IS AMONG THE INDICATORS MOST COMMONLY WATCHED BY POLICY MAKERS, INVESTORS,
AND THE GENERAL PUBLIC.
POLICY MAKERS AND CENTRAL BANKS CONSIDER HOW MUCH THE UNEMPLOYMENT RATE HAS INCREASED DURING A
PARTICULAR RECESSION TO GAUGE THE RECESSION’S IMPACT ON THE ECONOMY AND TO DECIDE HOW TO TAILOR
FISCAL AND MONETARY POLICIES TO MITIGATE ITS ADVERSE EFFECTS. IN ADDITION, CENTRAL BANKS CAREFULLY TRY
TO PREDICT THE FUTURE TREND OF THE UNEMPLOYMENT RATE TO DEVISE LONG-TERM STRATEGIES TO LOWER IT.
INVESTORS AND THE GENERAL PUBLIC USE THE UNEMPLOYMENT RATE TO UNDERSTAND THE STATE OF A COUNTY’S
ECONOMY AND AS A MEASURE OF HOW WELL THE GOVERNMENT IS RUNNING THE COUNTRY. A HIGH UNEMPLOYMENT
RATE MEANS THAT THE ECONOMY IS NOT ABLE TO GENERATE ENOUGH JOBS FOR PEOPLE SEEKING WORK. HIGH
UNEMPLOYMENT NOT ONLY BRINGS ABOUT DEEPER SOCIAL PROBLEMS AND PROLONGED SUFFERING FOR FAMILIES
BUT ALSO MAKES THE COUNTRY LESS ATTRACTIVE TO FOREIGN INVESTORS, THEREBY DECREASING THE INVESTMENT
FUNDS FLOWING INTO THE COUNTRY.
THANK
YOU
PO!
THIS IS MY PERFORMANCE TASK PO.