| The global economy has experienced a crisis akin | | | | unemployment however. Unemployment can also |
| to that of the Great Depression in the United | | | | result from other reasons aside from economic |
| States of America back in the 1930's though on a | | | | collapse or limited market availability. |
| much larger scale. The collapse of one of the | | | | Unemployment qualifications come in as many |
| world's leading economies has resulted in a lot of | | | | different forms as qualifications for employment. |
| companies going bankrupt. This crisis was also so | | | | The reasons for such are |
| severe that thousands upon thousands of | | | | (1) there are no jobs available that require the |
| workers lost their jobs. Getting a job has become | | | | particular set of skills that the person possesses; |
| important especially if one intends on not going | | | | (2) the person failed to meet the criteria for |
| hungry. | | | | qualifying for the job; |
| This is based on the concept of 'no work, no eat'; | | | | (3) the particular job market for a particular set |
| where the individual's welfare depends on their | | | | of skills that the individual possesses has ceased |
| ability to earn income so as to put food on the | | | | to exist; |
| table most especially if the person has a family to | | | | (4) the company for which the person used to |
| think about. A partial solution to this has been | | | | worked has become bankrupt and closed down; |
| administered especially to countries that have | | | | (5) the company which the individual works is |
| been greatly affected by this crisis, but the | | | | forced to reduce the number of its workers due |
| spectre of unemployment still hovers and remains | | | | to the inability to provide adequate compensation |
| very much real. What does it mean to be | | | | to the labourers; |
| unemployed by the way? And what are its | | | | (6) the individual has physical disabilities which |
| qualifications? | | | | prevents them from becoming employed (i.e. |
| Unemployment is the condition wherein the | | | | blindness, deafness, lack of a limb or limbs, and |
| individual is able to engage in a particular | | | | host of other physical limitations); |
| occupation and is willing to do so but is unable to. | | | | (7) the person does not possess the adequate |
| Unemployment simply means that the person | | | | mental faculties to hold a job (i.e. mental |
| wants a job and is willing to work but the work | | | | retardation, Down's Syndrome, etc); and |
| and/or job is not there or does not exist (there is | | | | (8) the individual may possess some debilitating |
| no demand for it). A person may be eligible for | | | | illness which hinders them from finding a job (i.e. |
| employment but does become employed for a | | | | severe cases of asthma, temporary to long term |
| variety of reasons (this is different from being | | | | paralysis, and other such severe medical |
| underemployed). Unemployment is commonly | | | | conditions). |
| caused by the concept of supply and demand. | | | | There may be other unemployment qualifications |
| There exists a steady and large supply of | | | | but I believe that aforementioned remain to be |
| workers but the demand for this supply is little or | | | | the most common causes of unemployment. |
| limited. This is not the sole reason for | | | | |