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Working Age & Types Of Unemployment

Working Age & Types Of Unemployment

Working-age population: Working age population is defined as persons between 20 and 64 years of age

Mexico has 63.2 million adults of working age, 33 million people below age 15 and almost 5 million above age 65

Unemployment: state where people are available for work , and have made a specific effort to find a job during the past month and who during the most recent survey web worked less than one hour for pay.

Formula: number of unemployed individuals/ total number of persons in the civilian labor force.

Kinds of Unemployment:

Frictional Unemployment: unemployment caused by workers who are between jobs.  Mr. X if offered a new Job, he has to quit his old one, and start a capacitating process in between without pay.

Structural Unemployment: occurs when a fundamental change in the operations of the economy reduces the demand for

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