By September 2017, that figure had dropped to 3 percent.About 25,000,000 people in the worlds 30 richest countries lost their jobs between the end of 2007 and the end of 2010, as the economic downturn pushed most countries into recession. In April 2010, the US unemployment rate was 9.9%, but the governments broader U-6 unemployment rate was 17.1%. In April 2012, the unemployment rate was 4.6% in Japan. In a 2012 story, the Financial Post reported, "Nearly 75 million youth are unemployed around the world, an increase of more than 4 million since 2007. In the European Union, where a debt crisis followed the financial crisis, the youth unemployment rate rose to 18% last year from 12.5% in 2007, the ILO report shows." In March 2018, according to US Unemployment Rate Statistics, the unemployment rate was 4.1%, below the 4.5–5.0% norm. See also
Notes
References
Farmer, Roger E. A. (2001). "Unemployment". Macroeconomics (Second ed.). Cincinnati: South-Western Publishing. pp. 173–192. ISBN 978-0-324-14964-7. Kalecki, Michał (1943). "Political aspects of full employment" (PDF). The Political Quarterly. 14 (4): 322–331. doi:10.1111/j.1467-923X.1943.tb01016.x. McGaughey, Ewan (10 January 2018). "Will Robots Automate Your Job Away? Full Employment, Basic Income, and Economic Democracy". Centre for Business Research, University of Cambridge, Working Paper No. 496. doi:10.2139/ssrn.3044448. S2CID 219336439. SSRN 3044448. Reich, Robert B. (2010). Aftershock: The Next Economy and Americas Future (1st ed.). Alfred A. Knopf. ISBN 978-0-307-59281-1. Romer, David (2011). "Unemployment". Advanced Macroeconomics (Fourth ed.). New York: McGraw-Hill Education. pp. 456–512. ISBN 978-0-07-351137-5. Simonazzi, Annamaria; Vianello, Fernando (2001).
In 1535, a bill was drawn up calling for the creation of a system of public works to deal with the problem of unemployment, which were to be funded by a tax on income and capital. A law that was passed a year later allowed vagabonds to be whipped and hanged.In 1547, a bill was passed that subjected vagrants to some of the more extreme provisions of the criminal law: two years servitude and branding with a "V" as the penalty for the first offense and death for the second. During the reign of Henry VIII, as many as 72,000 people are estimated to have been executed. In the 1576 Act, each town was required to provide work for the unemployed.The Elizabethan Poor Law of 1601, one of the worlds first government-sponsored welfare programs, made a clear distinction between those who were unable to work and those able-bodied people who refused employment. Under the Poor Law systems of England and Wales, Scotland and Ireland, a workhouse was a place people unable to support themselves could go to live and work. Industrial Revolution to late 19th century
Poverty was a highly visible problem in the eighteenth century, both in cities and in the countryside. In France and Britain by the end of the century, an estimated 10 percent of the people depended on charity or begging for their food. By 1776, some 1,912 parish and corporation workhouses had been established in England and Wales and housed almost 100,000 paupers.