UNEMPLOYMENT
Reasons for unemployment:
(1) ECONOMIC RECESSION
This is when consumer spending falls and workers are laid off leading to a decrease in circulation of money causing further unemployment.
Competition from free trade after 1972 caused firms to close and unemployment began to rise. Unemployment rates rose rapidly during the 1980's when multinational companies pulled out and new multinational companies failed to invest.
(2) SEASONAL UNEMPLOYMENT
This is when workers are laid off during slack periods of the year eg. After January sales.
(3) INCREASED TECHNOLOGY
New IT has defined…
