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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