Diseases, Conditions, Syndromes

Ireland steeled for start of second virus lockdown

Ireland on Wednesday braced for the start of a second nationwide coronavirus lockdown, with fears the new six-week hiatus will deal a heavier blow than the last one.

Health

Public health consequences of policing homelessness

Two weeks ago, Colorado State Patrol troopers began clearing out nearly 200 residents from homeless encampments that surround the Colorado Capitol. The enforcement of city ordinances like camping bans, park curfews and obstructions ...

Diseases, Conditions, Syndromes

New Zealand marks 100 days of virus elimination

New Zealand on Sunday marked 100 days since it stamped out the spread of the coronavirus, a rare bright spot in a world that continues to be ravaged by the disease.

Diseases, Conditions, Syndromes

Melbourne enters Australia's toughest virus lockdown

Australia's second-largest city entered the country's toughest lockdown yet on Thursday, sparking a fresh wave of anxiety and confusion over ever-tougher regulations.

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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. The unemployment rate is also used in economic studies and economic indices such as the United States' Conference Board's Index of Leading Indicators as a measure of the state of the macroeconomics.

Most economic schools of thought agree that the cause of involuntary unemployment is that wages are above the market clearing rate. However, there are disagreements as to why this would be the case: the economists argue that in a downturn, wages stay high because they are naturally 'sticky', whilst others argue that minimum wages and union activity keep them high. Keynesian economics emphasizes unemployment resulting from insufficient effective demand for goods and services in the economy (cyclical unemployment). Others point to structural problems, inefficiencies, inherent in labour markets (structural unemployment). Classical or neoclassical economics tends to reject these explanations, and focuses more on rigidities imposed on the labor market from the outside, such as minimum wage laws, taxes, and other regulations that may discourage the hiring of workers (classical unemployment). Yet others see unemployment as largely due to voluntary choices by the unemployed (frictional unemployment). Alternatively, some blame unemployment on Globalisation. There is also disagreement on how exactly to measure unemployment. Different countries experience different levels of unemployment; traditionally, the USA experiences lower unemployment levels than countries in the European Union, although there is variant there, with countries like the UK and Denmark outperforming Italy and France and it also changes over time (e.g. the Great depression) throughout economic cycles.

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