Quote of the day
“I find economics increasingly satisfactory, and I think I am rather good at it.”– John Maynard Keynes
Tuesday, 28 April 2015
If you get a question on unemployment:
First, it tends to have detrimental effects on the individuals involved. Workers’ human capital (whether actual or perceived by employers) may deteriorate during a spell of unemployment, and the time devoted to job search typically declines. Both factors imply that the chances of leaving unemployment fall the longer it goes on. More generally, long-term unemployment adversely affects people’s mental and physical wellbeing and it is one of the most significant causes of poverty for their households."
This is from an article looking at the situation in Greece:
http://www.telegraph.co.uk/finance/economics/11554873/Why-theres-little-hope-for-Greeces-unemployed.html
Labels:
economic crisis,
employment,
EU,
Greece,
human capital
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