What Is the Connection Between Aggregate Demand and Unemployment?
Unemployment rate refers to the number of laborers who have not worked for a certain period of time to meet all employment conditions. It aims to measure idle labor capacity and is the main indicator of the unemployment situation in a country or region.
unemployment rate
- Unemployment rate means (meet all
- Periodic unemployment:
- There are many reasons for unemployment, so the structure and changes of unemployment are the focus of observation. The causes of unemployment can be divided into:
- Unemployment rate Through the unemployment rate index, we can judge the employment situation of the entire working population in a certain period.
- On October 1, Japan s National Bureau of Statistics released data showing that after adjusting for seasonal factors, Japan s unemployment rate in August was 4.1%, which was an increase of 0.3% month-on-month, and it was the first time in six months that it had deteriorated. Among them, the number of employed people was 63.1 million, an increase of 290,000, or 0.5%; the number of unemployed was 2.71 million, a decrease of 60,000, or 2.2%.
Unemployment rate China
- Unemployment
- The unemployment rate is the percentage of the unemployed to the labor force.
- The population of China who has reached a certain minimum age, has the ability to work, requires paid work, but has not yet obtained a job is called the unemployed. Those who are unwilling to work and have no time to work, or who have not yet reached the required minimum age despite their desire to work, shall not be counted as unemployed. China is known as the unemployed population.
- Most countries in the world use two methods of unemployment statistics. One is the administrative registration unemployment rate, and the other is the labor force sample survey unemployment rate. Both unemployment rates are important basis for government decision-making.
- The registered unemployment rate counts the number of unemployed persons who have registered for unemployment at public employment service agencies, enjoyed unemployment insurance benefits and applied for jobs. Because the level of development of public employment services and social insurance varies from country to country, the registered unemployment rate cannot be compared between countries. The sample survey of unemployment rate is basically based on the international definition of unemployment, which can be compared internationally.
- Therefore, the urban registered unemployment rate and unemployment rate are two different concepts, and the statistical methods used are also different. The urban unemployment rate announced by China is the registered unemployment rate. It is the statistical collection of unemployed persons registered by the employment service agencies of the labor security department.
- Eleventh Five-Year Plan for Labor and Social Security
- Some scientific research units have calculated the urban unemployment rate in one way or another. Statistics are not the same. These data can be used as a reference, but they cannot be used as a basis for decision-making. The unemployment rate disclosed by the Chinese Academy of Social Sciences was investigated using the Delphi method. This method is actually asking the opinions of a certain number of experts and scholars for the content of the survey, then synthesizing the opinions, and finally forming a conclusion. This time, more than 50 scholars engaged in employment and labor statistics research and experts (officials) from relevant government departments were selected, and they were asked to judge and predict the unemployment rate and urban unemployment capacity. These experts and scholars have been paying attention to this field for a long time, and pay attention to collecting information in this regard. Their judgments should be well-founded.
- The registered unemployment rate does not equal the actual unemployment rate. China has not conducted a sample survey of the labor force, so there is no sample survey of the unemployment rate. In the future, a labor force sampling survey system will be gradually established. However, after using the sample survey method to determine the unemployment rate, the registered urban unemployment rate will continue to be used.
- In the first half of 2013, the surveyed unemployment rate in China was 5%. [1]
- At the opening ceremony of the recruitment expo yesterday, the Director of the Hong Kong Labour and Welfare Bureau, Mr Zhang Jianzong, pointed out that the latest unemployment rate in Hong Kong remained at 3.1%, the lowest level in 16 years. Among them, the 8.9% unemployment rate in the high-risk group aged 15 to 19 has also improved significantly. This is the lowest level in six years. The median monthly salary of full-time youth working in the fourth quarter of last year was 10,000 yuan (HK $, the same below), which is much higher than 7,000 yuan 10 years ago. After deducting inflation, there was also a real increase of 8.6%. He said that the current good job market, many jobs are "workers and others," in disguise makes it easier for young people to find jobs. [2]
- The Hong Kong SAR Government's Census and Statistics Department announced on January 19, 2015 that the seasonally adjusted unemployment rate was 3.3% from October to December last year, which is the same as the figure from September to November last year. The underemployment rate remained unchanged at 1.6 %s level. [3]
- According to the website of the National Development and Reform Commission, in the first half of 2015, in the face of increasing economic downward pressure, various localities and departments carefully implemented the decision-making and deployment of the Party Central Committee and the State Council, employment was solidly advanced, and the employment situation was generally stable.
- First, new employment in cities and towns has steadily increased, and the unemployment rate has remained basically stable. From January to June, 7.18 million new jobs were created in cities and towns across the country, 71.8% of the year's target tasks have been completed. Among them, 5.47 million new jobs were created in cities and towns in the second quarter, an increase of 90,000 from the same period last year. At the end of the second quarter, the registered urban unemployment rate was 4.04%, a year-on-year decrease of 0.04 percentage points. At the end of June, the surveyed unemployment rate in the 31 major cities and towns was 5.06%, 0.13 percentage points lower than the end of the first quarter, maintaining a basically stable trend.
- Second, the demand for labor in the market has remained stable. In the second quarter, the labor market demand ratio was 1.06, which has been greater than 1 for 19 consecutive quarters. In terms of different regions, the employment ratios of the east, central, and western regions were 1.03, 1.11, and 1.08, respectively. The demand for employment was greater than the supply. In terms of technical level, the demand for junior high school senior technical posts is greater than the number of job seekers.
- Third, the effectiveness of the reform has further shown, and the "double innovation" has continued to increase employment. With the reform of the commercial system, market vitality has further strengthened. In the first half of the year, the number of newly registered enterprises nationwide was 2.001 million, with an average of more than 10,000 daily. Entrepreneurship and innovation have led to a good employment momentum. As of the end of June, there were 264 million people working in the private sector in the country, an increase of 28 million or 11.6% over the same period last year. [4]
- Public data
- On September 9, 2013, China publicly released the relevant data on the survey of unemployment. State Council Premier Li Keqiang published a signed article "China will send a message of sustainable development to the world" in the British "Financial Times", "Since this year, China's economy has been operating steadily and has made progress. In the first half of the year, GDP increased by 7.6% year-on-year; 5% of surveyed unemployment Rate and 2.4% inflation rate are both in a reasonable and controllable range. "
- The surveyed unemployment rate of 5% is higher than the registered unemployment rate of 4.1% in the first two quarters announced by the Ministry of Human Resources and Social Security. The employment pressure in 2013 is actually relatively large. An expert from the Ministry of Human Resources and Social Security said that this is closely related to the current economic situation.
- First public survey of unemployment
- The 5% survey of unemployment rate mentioned by Premier Li Keqiang in the above-mentioned signed article is the first official survey of the unemployment rate by the government.
- Regarding the level of the unemployment rate, experts from the All-China Federation of Trade Unions said that although the data had not been released in previous years, it should not be much different from the 2013 data. The expert said that the 5% surveyed unemployment rate was not high. In the above article, Premier Li Keqiang pointed out that over the next ten years, China will have hundreds of millions of people integrated into cities.
- Will more people enter cities and increase employment pressure in cities and towns? Experts from the All-China Federation of Trade Unions said that in addition to labor supply, urban employment pressure is also related to the speed and mode of economic development. It is necessary to pay attention to the newly created employment after changing the mode of economic development post. Generally speaking, employment pressure is still relatively large. [5]
- On January 22, 2016, the Ministry of Human Resources and Social Security held a press conference to report 13.13 million new urban jobs in 2015, 5.67 million reemployed urban unemployed, and 1.73 million urban unemployed. The registered unemployment rate is 4.05%, and the goal of creating more than 10 million new jobs in cities and towns and controlling the registered unemployment rate within 4.5% has been fully achieved. [6]
Unemployment rate in Greece
- The latest data released by the Greek government shows that due to the financial crisis and economic recession, the registered unemployment rate in Greece in July 2012 climbed to 25.1%, a record high. This shows that the job market situation is still deteriorating.
- The Greek economy is currently experiencing severe tightening. Official data show that the Greek economy has shrunk by 20% since the 2008 debt crisis. The youth unemployment rate has exceeded 50%, reaching a worrying level. Economists estimate that the Greek economy may contract for the sixth consecutive year in 2013.
- "This is an inevitable consequence of the recession," said Angelos Tsakanikas, a researcher at the Greek IOBE Foundation. "The future of Greece will be more uncertain."
- According to data released by the Greek National Bureau of Statistics, the unemployment rate has risen from 24.8% in June to 25.1%, which is the same as Spain's unemployment level in August.
- Greece and Spain are the two with the highest unemployment rate among the 17 member states of the Eurozone. The average unemployment rate in the Eurozone has climbed to 11.4%, the highest level since 1999.
- The Hellenic Statistics Agency reported that about 1.26 million Greeks lost their jobs in July and almost 1,000 lost their jobs every day. The most affected groups are young people aged 15-24. The unemployment rate among young people at this age is as high as 54.2%.
- Before the outbreak of the financial crisis in July 2008, the number of registered unemployed people in Greece was only 364,000. [7]