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Youth unemployment worldwide last year dipped to a 15-year-low and is likely to continue falling through 2025, although weaker growth means Asia has lagged this trend, the International Labour ...
Economic research indicates that minimum wages [106] increases youth unemployment [107] in competitive labour markets for unskilled youth labour, and that the resulting delayed entry into the job market (for youths who are unable to obtain a job) leads to a reduction in training opportunities and thus a reduction in lifetime income. [108]
In Japan and South Korea, youth unemployment rates were at historic lows. The U.S. Bureau of Labor Statistics reported that youth unemployment in July was 9.8%, up from 8.7% the same period last year.
One year on, youth unemployment remains a headache, with the reconfigured jobless rate spiking to a 2024 high of 17.1% in July, as 11.79 million college students graduated this summer in an ...
High unemployment also has a negative effect on long-run economic growth. Unemployment may seriously harm growth because resources sit idle, because it generates redistributive pressures and distortions, because it idles human capital and deters its accumulation, because it drives people to poverty, because it results in liquidity constraints ...
High and the persistent unemployment, in which economic inequality increases, has a negative effect on subsequent long-run economic growth. Unemployment can harm growth because it is a waste of resources; generates redistributive pressures and subsequent distortions; drives people to poverty; constrains liquidity limiting labor mobility; and ...
China’s youth unemployment rate in August rose to the highest level since the new system of record-keeping began in December, driven by an economic slowdown and restrictive hiring policies ...
There may be an economic trade-off between unemployment and inflation, as policies designed to reduce unemployment can create inflationary pressure, and vice versa. Debates regarding monetary policy during 2014–2015 centered on the timing and extent of interest rate increases, as a near-zero interest rate target had remained in place since ...