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ПОЛИТИКА, ЭКОНОМИКА И ИННОВАЦИИ № 4 (51), 2023 УДК 331.56:330.101.541
Хева Бамбарандаге Арунда Самод Тарака Амарасингха, студент международного медицинского института Курского государственного медицинского университета, Курск, Россия
email: [email protected]
БЕЗРАБОТИЦА КАК МАКРОЭКОНОМИЧЕСКАЯ ПРОБЛЕМА
Аннотация: в статье изучена безработица в странах с рыночной экономикой. Выявлены социально-экономические последствия безработицы. Был сделан вывод о том, что безработица будет напрямую влиять на экономику страны во многих отношениях.
Ключевые слова: безработица, ВВП, уровень безработицы, естественный уровень, рабочая сила.
Hewa Bambarandage Arunda Samodh Tharaka Amarasingha, student of the International Medical Institute, Kursk State Medical University, Kursk, Russia
email: samodarunda@gmail .com
UNEMPLOYMENT AS A MACROECONOMIC PROBLEM
Abstract: the article describes the unemployment in the countries with market economy. Social and economic effects of unemployment are revealed. It was concluded that the unemployment of economy will affects directly on country's economy in many ways.
Key words: unemployment, GDP, unemployment rate, natural rate, labor force
Unemployment is when willing and capable workers are unable to find jobs.
ПОЛИТИКА, ЭКОНОМИКА И ИННОВАЦИИ № 4 (51), 2023
The official unemployment definition: which states that "people are classified as unemployed if they do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work."1. Part Of. Guide to Unemployment U.S. Bureau of Labor Statistics.
There are several factors that originate from both the supply side, or the worker, and the demand side, or the employer, that contribute to unemployment. Main reasons for unemployment can shortlisted as recessions, depressions, technological improvements, job outsourcing, and willingly changing jobs [1].
High interest rates, the world economy being in a recession, and the financial crisis might all affect demand. Frictional unemployment and structural employment are major supply-side contributors.
The effects of unemployment can spread across the economy as well as among the workforces. Workers who are unemployed experience financial difficulty, which influences their families, relationships, and communities. When it does, consumer spending, one of an economy's main drivers of growth, declines, which, if left ignored, can result in a recession or even a depression. Reduced demand, consumption, and purchasing power as a result, unemployment decreased firm earnings, budget cuts, and staff layoffs are all consequences. Without intervention, it becomes a vicious cycle that is hard to break.
The lowest unemployment rate ever recorded in Russia was 3.7 percent in November 2022, down from the previous month's 3.9 percent and under the market consensus of 4 percent [2].
The outcome was consistent with prior claims made by the Central Bank of Russia that the Russian military's deployment to Ukraine for combat increased labor shortages and diminished the potential of the Russian economy. To 2.745 million, there were 152 thousand fewer jobless people.
Sri Lanka's unemployment rate dropped from 5.2 percent in the third quarter of 2021 to 5 percent in the third quarter of 2022. While the number of employed people decreased by 33538 to 8,010,340, the number of jobless people fell by 72424 to 419, 163. When compared to the third quarter of2021, the employment rates in the industrial
ПОЛИТИКА, ЭКОНОМИКА И ИННОВАЦИИ № 4 (51), 2023 and services sectors increased slightly to 47.2 percent and 25.9 percent, respectively. However, the employment rates in the services sector decreased (26.9 percent vs 29.7 percent in Q3 2021). In terms of overall unemployment, women had a greater percentage (6.4%) than men did (4.2 percent). The highest recorded unemployment rate among all age categories was 23.8 percent for the young population, which includes those between the ages of 15 and 24 [1].
As a developing economy Sri Lanka is recording higher unemployment rates through last 10 years of period. It has increased by 2019-2021 due to pandemic [4].
In the third quarter of 2022, Sri Lanka's GDP contracted 11.8% year over year, the second biggest contraction ever, as a result of the ongoing financial and economic crisis. The nation is dealing with high interest rates, power outages, rising inflation, a dollar imbalance, and gasoline and fertilizer shortages. Services fell 2.6%, industries fell 21.2%, and agriculture fell 8.7%. The World Bank projects that Sri Lanka's real GDP would decline by 9.2% this year and 4.2% in 2023. The nation's central bank predicts that in 2022, the GDP would shrink by around 8% [5].
The third quarter of 2022 saw a 3.7% year-over-year decline in Russia's gross domestic product, which was revised down from initial estimates of a 4% decline and slightly below the 4% prediction of the Central Bank of Russia. The outcome widens the 2.9% decline from the second quarter as Western sanctions on Russia for its invasion of Ukraine in February continued to put pressure on the Russian economy. Manufacturing industries had a decrease in output of 2.4% compared to -4% in Q2, as did wholesale and retail commerce (-19.7% vs -14.1%), water supply and wastewater disposal (-10.1% vs -9.2%), utility generating (-0.3% vs 2%), and professional, scientific, and technical activities (-5.5% vs -2.3%). Mining output stagnated in the interim (vs -0.8%). The Ministry of Economic Development forecasts a 2.9% decline in GDP, while the central bank predicts a 3%-3.5% decline for the entire year of 2022
[3].
People who are unemployed might run into a lot of difficulties. The longer a person is unemployed, the more difficult these issues become. Unemployed people often rely on their savings or borrowed money to cover critical bills such as food and
ПОЛИТИКА, ЭКОНОМИКА И ИННОВАЦИИ № 4 (51), 2023 living expenses. Being the principal provider for a family makes it considerably harder for unemployed people. Stress-related health conditions including headaches, high blood pressure, and diabetes can be brought on by unemployment. People without jobs are less likely to invest money in health-related purchases like gym memberships or wholesome foods. Individuals who neglect to take these preventative steps run a higher chance of experiencing a deterioration in physical health [4].
Higher poverty rates and poorer neighborhoods are frequently a result of high unemployment rates in some locations. Low-quality housing and few work options are more prevalent in areas with high unemployment rates [5].
Economic effects of unemployment have direct implications on the economy as a whole in addition to having an influence on individuals and society. The U.S. Bureau of Labor Statistics claims that when individuals are jobless, they spend less money, which eventually results in a reduction in the number of services or commodities that are sold and produced for the economy. Since they have less money to spend, unemployed people also have lower purchasing power, which can result in job losses for those who make the goods these people buy. A greater unemployment rate might result in an economy that sells less goods because unemployed people consume substantially less than employed people do. Organizations may see a decline in income as a result [1].
References
1. Khan, S. A. (2018). Types of Unemployment & their causes with examples. www.linkedin.com
2. Russian Unemployment Rate Commodities - Live Quote Price Trading Data tradingeconomics.com)
3. Sri Lankan Unemployment Rate Sri Lanka Indicators tradingeconomics.com)
4. Sri Lanka Unemployment Rate Vs Russia Unemployment Rate, https://tradingeconomics.com/
5. Sri Lanka Vs Russia GDP Annual Growth https://tradingeconomics.com
