Types of unemployment
In industrialized countries in which most people can earn a living only by
working for others, being unable to find a job is a serious problem. Because of its human
costs in deprivation and a feeling of rejection and personal failure, the extent of
unemployment is widely used as a measure of workers' welfare. The proportion of
workers unemployed also shows how well a nation's human resources are used and serves
as an index of …
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…depressions occurred in the first quarter of the 20th century. The worst depression in
United States history was in the 1930s. At its height, one worker in four was unemployed,
and some remained out of work for years.
In industrialized countries, with unemployment insurance and other forms of
income maintenance, unemployment does not cause as great a hardship as it once did.
Measures to stabilize the economy have made economic downturns briefer and less
severe.
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