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Friday, September 24, 2010
Saturday, August 28, 2010
What is unemployment health insurance and its importance?
The cost of medications and hospitalizations are constantly high. High quality services are offered by the hospitals and a long bill is given against it. There are new types of medicines being invented to prevent diseases and sometimes they burn a whole in the pocket. The doctors are specialists in their respective fields and charge a considerable amount of money. However, in spite of the high cost, one cannot avoid medical treatment. Regular checkups, certain vaccines and attending to injuries are mandatory. Health insurance for unemployed help jobless people deal with medical bills. Unemployment health insurance has been the concern for federal Government for some time now.
The first step is to loom up the internet for options of unemployment health insurance. The internet is the largest resource one has at hand for finding any kind of information. There are numerous unemployment health insurance policies made to fit the needs of different people. For people who cannot access the internet, the local employment office will give all the necessary information.
There are acts that ensure health insurance for unemployed. The Health Insurance Portability and Accountability Act of 1996 states that people can be eligible for job loss insurance. An individual can avail two policies under this act. The COBRA or the Consolidated Omni Budget Reconciliation Act states that a person who has left the job is still entitled to a health insurance policy by the previous employer. The unemployed person can still continue under the health insurance plan that was covering him when he was employed. This unemployment health insurance policy can be availed after voluntary and involuntary termination of the job.
One should always get unemployment health insurance policy based on the affordability. There are numerous plans in the market that you have to choose from. One should try to opt for health insurance for unemployed plan with complete benefits. This will make the health insurance company pay for all the expenses including visiting the doctor and regular tests. One might have to pay a small medical deductible but all the expenses are covered. The other alternative for health insurance for unemployed is catastrophic health insurance. In this case the health insurance company will only pay the medical expenses when a sudden catastrophe has taken place.
When a person is unemployed, his or her tensions multiply. In such a moment of crisis one feels that an affordable unemployment health insurance policy will not be available. However, if properly searched one can get health insurance for employment at affordable prices. One can get in touch with the previous employer to know more about the qualifying events that will entitle one health insurance for unemployed.
The short-term health insurance policies have also been made keeping the needs of the unemployed in mind. Though there are many insurance companies that may not be ready to provide coverage for an unemployed individual, some Government programs on health insurance for unemployed have been specifically designed. They should check with the local employment offices for more information. Immediately after one is rendered jobless, it is advisable to get oneself and the family covered under a short-term health insurance plan for unemployment health insurance. Later, when one is financially stable, the short term can be transferred into a long tern policy.
The first step is to loom up the internet for options of unemployment health insurance. The internet is the largest resource one has at hand for finding any kind of information. There are numerous unemployment health insurance policies made to fit the needs of different people. For people who cannot access the internet, the local employment office will give all the necessary information.
There are acts that ensure health insurance for unemployed. The Health Insurance Portability and Accountability Act of 1996 states that people can be eligible for job loss insurance. An individual can avail two policies under this act. The COBRA or the Consolidated Omni Budget Reconciliation Act states that a person who has left the job is still entitled to a health insurance policy by the previous employer. The unemployed person can still continue under the health insurance plan that was covering him when he was employed. This unemployment health insurance policy can be availed after voluntary and involuntary termination of the job.
One should always get unemployment health insurance policy based on the affordability. There are numerous plans in the market that you have to choose from. One should try to opt for health insurance for unemployed plan with complete benefits. This will make the health insurance company pay for all the expenses including visiting the doctor and regular tests. One might have to pay a small medical deductible but all the expenses are covered. The other alternative for health insurance for unemployed is catastrophic health insurance. In this case the health insurance company will only pay the medical expenses when a sudden catastrophe has taken place.
When a person is unemployed, his or her tensions multiply. In such a moment of crisis one feels that an affordable unemployment health insurance policy will not be available. However, if properly searched one can get health insurance for employment at affordable prices. One can get in touch with the previous employer to know more about the qualifying events that will entitle one health insurance for unemployed.
The short-term health insurance policies have also been made keeping the needs of the unemployed in mind. Though there are many insurance companies that may not be ready to provide coverage for an unemployed individual, some Government programs on health insurance for unemployed have been specifically designed. They should check with the local employment offices for more information. Immediately after one is rendered jobless, it is advisable to get oneself and the family covered under a short-term health insurance plan for unemployment health insurance. Later, when one is financially stable, the short term can be transferred into a long tern policy.
Tackling Unemployment in Nepal
One of Nepal’s biggest knitted fabric exporters was forced to shut down in May, after its leading U.S. client, facing its own downturn, stopped placing orders. The closure threw 1,277 employees out of work. “The loss of the regular orders from this big clothing company has been the final nail in the coffin,” after work interruptions due to political turmoil, conflicts and long power cuts, said Bidur Pokharel, manager of the company, JD Apparels Garments.
To further exacerbate the unemployment problem, migrant workers are losing their jobs abroad and returning home to look for work.
Rana Bahadur Sunar, 22, a Nepali contract worker at a Qatari construction company, saw his two-year contract terminated after 15 months, because his employer could not afford to keep paying all of its workers. Sunar had not finished paying back the loan that he had paid to the broker who found him the job, and he has now returned to his village in the Banke district. As he has no other skills, he has to rely on day labour. He feels lucky if he can find work every day.
To support these young people through this transition, the United Nations set up a 10-member Youth Advisory Panel, to identify opportunities to address adolescent and youth issues. Its members are women and men aged between 15 and 29.
In tandem, UNDP is running a micro-enterprise programme that provides skills training in 10 conflict-affected districts in the terai (lowland) region. S
But tourism, a sector in which UNDP has focused some of its efforts, has seen some growth, after Nepal’s tourism board started marketing in neighboring countries, rather than mainly in the United States, Europe and Japan.
Tourism revenues plunged 16 percent in the first three months of 2009, possibly as a result of the recession, said Prachanda Man Shrestha, the CEO of the Nepal Tourism Board.
“Since 45 percent of the tourism revenue originates from Western Europe, North America, Japan and Australia, the impact will definitely be seen in Nepal,” Shrestha said.
But when the board shifted focus toward attracting tourists from neighbouring countries, like India and China, tourism rebounded by 17 percent - in April. “Nepal is a cheap destination for tourists, so maybe the recession could even be a boon for the tourism sector,” Shrestha said.
Nepal depends heavily on tourism and remittances. In 2007, a year after the peace agreement was signed between the Maoists and the government, tourism grew 37 percent, and together with remittances, generated revenues of US$ 1.7 billion.
UNDP partnered with the Nepal Tourism Board to pilot rural tourism in six of the 75 districts in the country, efforts which could stave off the worst effects of the crisis.
Tackling Unemployment in Nepal
its leading U.S. client, facing its own downturn, stopped placing orders. The closure threw 1,277 employees out of work.
“The loss of the regular orders from this big clothing company has been the final nail in the coffin,” after work interruptions due to political turmoil, conflicts and long power cuts, said Bidur Pokharel, manager of the company, JD Apparels Garments.
To further exacerbate the unemployment problem, migrant workers are losing their jobs abroad and returning home to look for work. Rana Bahadur Sunar, 22, a Nepali contract worker at a Qatari construction company, saw his two-year contract terminated after 15 months, because his employer could not afford to keep paying all of its workers. Sunar had not finished paying back the loan that he had paid to the broker who found him the job, and he has now returned to his village in the Banke district. As he has no other skills, he has to rely on day labour. He feels lucky if he can find work every day.
To support these young people through this transition, the United Nations set up a 10-member Youth Advisory Panel, to identify opportunities to address adolescent and youth issues. Its members are women and men aged between 15 and 29.
In tandem, UNDP is running a micro-enterprise programme that provides skills training in 10 conflict-affected districts in the terai (lowland) region. Some participants have become entrepreneurs, opening sawmills, a brick factory and sugar-cane mills and restoring a sense of hope about the future.
A Ray of Hope
But tourism, a sector in which UNDP has focused some of its efforts, has seen some growth, after Nepal’s tourism board started marketing in neighboring countries, rather than mainly in the United States, Europe and Japan.
Tourism revenues plunged 16 percent in the first three months of 2009, possibly as a result of the recession, said Prachanda Man Shrestha, the CEO of the Nepal Tourism Board.
“Since 45 percent of the tourism revenue originates from Western Europe, North America, Japan and Australia, the impact will definitely be seen in Nepal,” Shrestha said.
But when the board shifted focus toward attracting tourists from neighbouring countries, like India and China, tourism rebounded by 17 percent - in April. “Nepal is a cheap destination for tourists, so maybe the recession could even be a boon for the tourism sector,” Shrestha said.
Nepal depends heavily on tourism and remittances. In 2007, a year after the peace agreement was signed between the Maoists and the government, tourism grew 37 percent, and together with remittances, generated revenues of US$ 1.7 billion.
UNDP partnered with the Nepal Tourism Board to pilot rural tourism in six of the 75 districts in the country, efforts which could stave off the worst effects of the crisis.
“The loss of the regular orders from this big clothing company has been the final nail in the coffin,” after work interruptions due to political turmoil, conflicts and long power cuts, said Bidur Pokharel, manager of the company, JD Apparels Garments.
To further exacerbate the unemployment problem, migrant workers are losing their jobs abroad and returning home to look for work. Rana Bahadur Sunar, 22, a Nepali contract worker at a Qatari construction company, saw his two-year contract terminated after 15 months, because his employer could not afford to keep paying all of its workers. Sunar had not finished paying back the loan that he had paid to the broker who found him the job, and he has now returned to his village in the Banke district. As he has no other skills, he has to rely on day labour. He feels lucky if he can find work every day.
To support these young people through this transition, the United Nations set up a 10-member Youth Advisory Panel, to identify opportunities to address adolescent and youth issues. Its members are women and men aged between 15 and 29.
In tandem, UNDP is running a micro-enterprise programme that provides skills training in 10 conflict-affected districts in the terai (lowland) region. Some participants have become entrepreneurs, opening sawmills, a brick factory and sugar-cane mills and restoring a sense of hope about the future.
A Ray of Hope
But tourism, a sector in which UNDP has focused some of its efforts, has seen some growth, after Nepal’s tourism board started marketing in neighboring countries, rather than mainly in the United States, Europe and Japan.
Tourism revenues plunged 16 percent in the first three months of 2009, possibly as a result of the recession, said Prachanda Man Shrestha, the CEO of the Nepal Tourism Board.
“Since 45 percent of the tourism revenue originates from Western Europe, North America, Japan and Australia, the impact will definitely be seen in Nepal,” Shrestha said.
But when the board shifted focus toward attracting tourists from neighbouring countries, like India and China, tourism rebounded by 17 percent - in April. “Nepal is a cheap destination for tourists, so maybe the recession could even be a boon for the tourism sector,” Shrestha said.
Nepal depends heavily on tourism and remittances. In 2007, a year after the peace agreement was signed between the Maoists and the government, tourism grew 37 percent, and together with remittances, generated revenues of US$ 1.7 billion.
UNDP partnered with the Nepal Tourism Board to pilot rural tourism in six of the 75 districts in the country, efforts which could stave off the worst effects of the crisis.
Thursday, August 26, 2010
How Will The Economic Crisis Affect People's life?
The global economic crisis has been in the news for a long time to an extent of triggering the attention of even those who are not interested in current issues. Its effect has hit and shook all corners of the world, which has made people to be anxious and uncertain about the future. The changes in the living standards have been the first to be affected, where they have declined due to high costs of living (Devine, 2008). The cost of housing, and basic products have gone up and become less affordable to many people. Collapse of businesses has hit the markets with major collapses and effects in the banking sector e.g. Lehman brothers.
Unemployment has been another effect on the people; unemployment has risen highly in the last few years of the economic crunch (Khor, 2009). Collapse of the firms leaves people unemployed and even companies are resorting to layoffs as the easiest way to pull out of the crisis. The investments have been largely decreased since the incomes of the households have been adversely affected by the increasing inflation and declining purchasing power, thus translating to low investment (Baily, & Elliot, 2009). The stock market has also been hard hit by the financial crunch causing a downward trend on most of the stocks and reduced investor confidence.
Some companies have considered mergers to raise their capital base which has been affected by the economic crisis, e.g. General Motors. These mergers tend to destabilize the labor market, causing unemployment either directly or indirectly. The effects of the crisis have been far wide and reaching; it calls for government intervention in eliminating and minimizing the effects through better fiscal and monetary policies which will boost investor confidence and cushion the companies from further financial difficulties and imminent collapse. Giving subsidies and improving lending to banks will be a better way to approach the crisis lest we see the economies of the world tumble down and split (Noble & Ravenhill, 2000 p. 22).
About the Author
The global economic crisis has been in the news for a long time to an extent of triggering the attention of even those who are not interested in current issues. Its effect has hit and shook all corners of the world, which has made people to be anxious and uncertain about the future.
Unemployment has been another effect on the people; unemployment has risen highly in the last few years of the economic crunch (Khor, 2009). Collapse of the firms leaves people unemployed and even companies are resorting to layoffs as the easiest way to pull out of the crisis. The investments have been largely decreased since the incomes of the households have been adversely affected by the increasing inflation and declining purchasing power, thus translating to low investment (Baily, & Elliot, 2009). The stock market has also been hard hit by the financial crunch causing a downward trend on most of the stocks and reduced investor confidence.
Some companies have considered mergers to raise their capital base which has been affected by the economic crisis, e.g. General Motors. These mergers tend to destabilize the labor market, causing unemployment either directly or indirectly. The effects of the crisis have been far wide and reaching; it calls for government intervention in eliminating and minimizing the effects through better fiscal and monetary policies which will boost investor confidence and cushion the companies from further financial difficulties and imminent collapse. Giving subsidies and improving lending to banks will be a better way to approach the crisis lest we see the economies of the world tumble down and split (Noble & Ravenhill, 2000 p. 22).
About the Author
The global economic crisis has been in the news for a long time to an extent of triggering the attention of even those who are not interested in current issues. Its effect has hit and shook all corners of the world, which has made people to be anxious and uncertain about the future.
UNEMPLOYMENT
Contents:
I. Definition of unemployment
II. Causes of unemployment
III. Types of unemployment
IV. Cost of unemployment
V. Measures to reduce unemployment
VI. Conclusion
VII. References:
Definition of unemployment:
Unemployment refers to the number of people who are jobless in an economy; unemployment is measured in terms of unemployment rate which is derived from the number of people who are unemployed divided by the total labor force. Unemployment has been a concern to governments as they apply policies that aid in reducing unemployment.
Unemployment means a condition in which an economy has idle resources that are not being utilized, labor is a factor of production and if a country does not utilize this labor to the fullest then we have unemployment of labor which is a factor of production.
Unemployment however can be termed as a state in which an individual is looking for a job but not getting one, however unemployment does not include students, retired people or even children. There are three types of unemployment namely cyclical unemployment, frictional and structural unemployment, there are two types of frictional unemployment and this include seasonal unemployment and wait unemployment.
Measurement of unemployment:
Types of unemployment:
Cyclical unemployment:
This type of unemployment exist where we have inadequate aggregate demand, its name is derived for varying business cycles, business cycles refers to varying of aggregate demand which when aggregate demand falls this discourages investments leading to unemployment, this business cycles are brought about by high tax levels, under consumption, low government spending and a decline in exports. Therefore this type of unemployment will result due to low aggregate demand which will cause a decline in investment leading to lower employment levels.
Frictional unemployment:
This type of unemployment results from people who are between jobs or temporarily looking for new ones, this type of unemployment is usually seen as voluntary unemployment because people search for new jobs, however this type of unemployment allows workers to get the best jobs that meet their wants and skills.
There are two types of frictional unemployment and they include the wait unemployment and seasonal unemployment:
Wait unemployment:
This is one type of frictional unemployment whereby workers will wait to achieve the few high paying jobs in an economy, this results to what is termed as wait unemployment.
Seasonal unemployment:
This type of frictional unemployment is as a result of seasonal occupations that results from seasons, some enterprises provide jobs only during certain seasons and when the season is over they cause unemployment which is termed as seasonal unemployment.
Structural unemployment
Structural Unemployment results from the changes in the economy, this type of unemployment results from changes in the economic structure of an economy making a mismatch between the job and the job seekers a good example is the advancement in technology lendering current workers to be unemployed because they lack necessary skills for the job. The introduction of modern technology such as computers will result to unemployment of old employees who may be computer illiterate.
Disguised unemployment:
Thios is another type of unemployment whereby it can be termed as under unemployment, it involves employment that does not the equilibrium wage rate, example a person who spends the whole day herding only one sheep yet he can manage to take care of a hundred goats, this is termed as disguised unemployment.
Causes of unemployment:
Cyclical unemployment:
Cyclical unemployment is caused by business cycles which result from reduced aggregate demand; the reduction in aggregate demand will discourage investment leading to unemployment.
Frictional unemployment:
This type of unemployment is caused by people who are in between jobs or are looking for better jobs. Seasonal unemployment is caused by changes in seasons while wait unemployment is caused by the few available high paying jobs.
Structural unemployment:
This typoe of unemployment is caused by changes in the structural forms of an economy where by the current employees will lack the necessary skills for job resulting to unemployment.
Disguised unemployment:
This type of unemployment is caused by underemployment whereby the person is employed but under employed, it is caused by lack of resources to produce and poverty.
Cost of unemployment:
Measures to reduce unemployment:
Cyclical unemployment:
According to the Keynesian theory this type of unemployment can be solved through stimulation of aggregade demand whereby this can be done through increased government spending or an expansionary monetary policy.
Frictional unemployment:
This type of unemployment cannot be solved through stimulation of aggregate demand as in the case of cyclical unemployment, this type of unemployment can be solved through the provision of more and better information to employers and the employees about a particular job.
Structural unemployment:
This type of unemployment results from the structural changes in the economy, this type of unemployment therefore can be resolved through the retraining of workers for their present jobs.
Disguised unemployment:
This type of unemployment can be reduced through government and monetary policies, because it results from poverty strategy that help erradicte poverty will play a major role in reducing this type of unemployment
Contents:
I. Definition of unemployment
II. Causes of unemployment
III. Types of unemployment
IV. Cost of unemployment
V. Measures to reduce unemployment
VI. Conclusion
VII. References:
Definition of unemployment:
Unemployment refers to the number of people who are jobless in an economy; unemployment is measured in terms of unemployment rate which is derived from the number of people who are unemployed divided by the total labor force. Unemployment has been a concern to governments as they apply policies that aid in reducing unemployment.
Unemployment means a condition in which an economy has idle resources that are not being utilized, labor is a factor of production and if a country does not utilize this labor to the fullest then we have unemployment of labor which is a factor of production.
Unemployment however can be termed as a state in which an individual is looking for a job but not getting one, however unemployment does not include students, retired people or even children. There are three types of unemployment namely cyclical unemployment, frictional and structural unemployment, there are two types of frictional unemployment and this include seasonal unemployment and wait unemployment.
Measurement of unemployment:
Types of unemployment:
Cyclical unemployment:
This type of unemployment exist where we have inadequate aggregate demand, its name is derived for varying business cycles, business cycles refers to varying of aggregate demand which when aggregate demand falls this discourages investments leading to unemployment, this business cycles are brought about by high tax levels, under consumption, low government spending and a decline in exports. Therefore this type of unemployment will result due to low aggregate demand which will cause a decline in investment leading to lower employment levels.
Frictional unemployment:
This type of unemployment results from people who are between jobs or temporarily looking for new ones, this type of unemployment is usually seen as voluntary unemployment because people search for new jobs, however this type of unemployment allows workers to get the best jobs that meet their wants and skills.
There are two types of frictional unemployment and they include the wait unemployment and seasonal unemployment:
Wait unemployment:
This is one type of frictional unemployment whereby workers will wait to achieve the few high paying jobs in an economy, this results to what is termed as wait unemployment.
Seasonal unemployment:
This type of frictional unemployment is as a result of seasonal occupations that results from seasons, some enterprises provide jobs only during certain seasons and when the season is over they cause unemployment which is termed as seasonal unemployment.
Structural unemployment
Structural Unemployment results from the changes in the economy, this type of unemployment results from changes in the economic structure of an economy making a mismatch between the job and the job seekers a good example is the advancement in technology lendering current workers to be unemployed because they lack necessary skills for the job. The introduction of modern technology such as computers will result to unemployment of old employees who may be computer illiterate.
Disguised unemployment:
Thios is another type of unemployment whereby it can be termed as under unemployment, it involves employment that does not the equilibrium wage rate, example a person who spends the whole day herding only one sheep yet he can manage to take care of a hundred goats, this is termed as disguised unemployment.
Causes of unemployment:
Cyclical unemployment:
Cyclical unemployment is caused by business cycles which result from reduced aggregate demand; the reduction in aggregate demand will discourage investment leading to unemployment.
Frictional unemployment:
This type of unemployment is caused by people who are in between jobs or are looking for better jobs. Seasonal unemployment is caused by changes in seasons while wait unemployment is caused by the few available high paying jobs.
Structural unemployment:
This typoe of unemployment is caused by changes in the structural forms of an economy where by the current employees will lack the necessary skills for job resulting to unemployment.
Disguised unemployment:
This type of unemployment is caused by underemployment whereby the person is employed but under employed, it is caused by lack of resources to produce and poverty.
Cost of unemployment:
Measures to reduce unemployment:
Cyclical unemployment:
According to the Keynesian theory this type of unemployment can be solved through stimulation of aggregade demand whereby this can be done through increased government spending or an expansionary monetary policy.
Frictional unemployment:
This type of unemployment cannot be solved through stimulation of aggregate demand as in the case of cyclical unemployment, this type of unemployment can be solved through the provision of more and better information to employers and the employees about a particular job.
Structural unemployment:
This type of unemployment results from the structural changes in the economy, this type of unemployment therefore can be resolved through the retraining of workers for their present jobs.
Disguised unemployment:
This type of unemployment can be reduced through government and monetary policies, because it results from poverty strategy that help erradicte poverty will play a major role in reducing this type of unemployment
Tuesday, August 24, 2010
Histry of unemployment
Hidden, or covered, unemployment is the unemployment of potential workers that is not reflected in official unemployment statistics, due to the way the statistics are collected. In many countries only those who have no work but are actively looking for work (and/or qualifying for social security benefits) are counted as unemployed. Those who have given up looking for work (and sometimes those who are on Government "retraining" programmes) are not officially counted among the unemployed, even though they are not employed. The same applies to those who have taken early retirement to avoid being laid off, but would prefer to be working. The statistic also does not count the "underemployed" - those with part time or seasonal jobs who would rather have full time jobs. In addition, those who are of working age but are currently in full-time education are usually not considered unemployed in government statistics. Because of hidden unemployment, official statistics often underestimate unemployment rates.
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