unemployment

Unemployment occurs when a person is available to work and seeking work but currently without work. The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed

types of unemployment


-Long-term unemployment


-Seasonal unemployment


-Structural unemployment


-Classical unemployment


-Frictional unemployment

In the U.S. the unemployment insurance allowance one receives is based solely on previous income and usually compensates for one-third of one's previous income. To qualify, one must reside in their respective state for at least a year and, of course, work. The system was established by the Social Security Act of 1935. While 90% of citizens are covered on paper, only 40% could actually receive benefits.In cases of highly seasonal industries the system provides income to workers during the off seasons, thus encouraging them to stay attached to the industry.

http://en.wikipedia.org/wiki/Unemployment