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.
Saturday, August 28, 2010
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.
Hitstory of unemployment in Nepal
In the 16th century in England, no distinction was made between vagrants and the jobless; both were simply categorised as "sturdy beggars", to be punished and moved on.[4] The closing of the monasteries in the 1530s increased poverty, as the church had helped the poor. In addition, there was a significant rise in enclosure during the Tudor period. Also the population was rising. Those unable to find work had a stark choice: starve or break the law. In 1535, a bill was drawn up calling for the creation of a system of public works to deal with the problem of unemployment, to be funded by a tax on income and capital. A law passed a year later allowed vagabonds to be whipped and hanged.[5] In 1547, a bill was passed that subjected vagrants to some of the more extreme provisions of the criminal law, namely two years servitude and branding with a "V" as the penalty for the first offence and death for the second.[6] During the reign of Henry VIII, as many as 72,000 people are estimated to have been executed.[7]
In the 1576 Act each town was required to provide work for the unemployed.[8] The Elizabethan Poor Law of 1601, one of the world's first government-sponsored welfare programs, made a clear distinction between those who were unable to work and those able-bodied people who refused employment.[9] Under the Poor Law systems of England and Wales, Scotland and Ireland a workhouse was a place where people who were unable to support themselves, could go to live and work.[10] In the early 1700s, there were roughly 10 million people living in England, and an estimated two million were, “vagrants, rogues, prostitutes, beggars or indigents.”[11] In 18th century England, half the population was at least occasionally dependent on charity for subsistence.[12] By 1776 some 1,912 parish and corporation workhouses had been established in England and Wales, housing almost 100,000 paupers.
In the 1576 Act each town was required to provide work for the unemployed.[8] The Elizabethan Poor Law of 1601, one of the world's first government-sponsored welfare programs, made a clear distinction between those who were unable to work and those able-bodied people who refused employment.[9] Under the Poor Law systems of England and Wales, Scotland and Ireland a workhouse was a place where people who were unable to support themselves, could go to live and work.[10] In the early 1700s, there were roughly 10 million people living in England, and an estimated two million were, “vagrants, rogues, prostitutes, beggars or indigents.”[11] In 18th century England, half the population was at least occasionally dependent on charity for subsistence.[12] By 1776 some 1,912 parish and corporation workhouses had been established in England and Wales, housing almost 100,000 paupers.
unemploment in nepal
Unemployment occurs when a person is able and willing to work but currently without work The prevalence of unemployment is usually measured using the unemployment rate, which is defined as the percentage of those in the labor force who are unemployed. The unemployment rate is also used in economic studies and economic indices such as the United States' Conference Board's Index of Leading Indicators as a measure of the state of macroeconomics.
The causes of unemployment are disputed. Keynesian economics emphasizes unemployment resulting from insufficient effective demand for goods and services in the economy (cyclical unemployment). Others point to structural problems and inefficiencies inherent in labour markets; structural unemployment involves mismatches between demand and supply of laborers with the necessary skillset, sometimes induced by technologies or globalisation. Classical or neoclassical economics tends to reject these explanations, and focuses more on rigidities imposed on the labor market from the outside, such as unionization, minimum wage laws, taxes, and other regulations that may discourage the hiring of workers (classical unemployment). Yet others see unemployment as largely due to voluntary choices by the unemployed and the time it takes to find a new job (frictional unemployment). Behavioral economics highlights phenomena such as sticky wages and efficiency wages which may lead to unemployment.
There is also disagreement on how exactly to measure unemployment. Different countries experience different levels of unemployment; traditionally, the United States tends to experience lower unemployment levels than countries in the European Union,[3] although there is some variation there, with countries like the UK and Denmark outperforming Italy and France and it also changes over time (e.g. the Great Depression) throughout economic cycles.
The causes of unemployment are disputed. Keynesian economics emphasizes unemployment resulting from insufficient effective demand for goods and services in the economy (cyclical unemployment). Others point to structural problems and inefficiencies inherent in labour markets; structural unemployment involves mismatches between demand and supply of laborers with the necessary skillset, sometimes induced by technologies or globalisation. Classical or neoclassical economics tends to reject these explanations, and focuses more on rigidities imposed on the labor market from the outside, such as unionization, minimum wage laws, taxes, and other regulations that may discourage the hiring of workers (classical unemployment). Yet others see unemployment as largely due to voluntary choices by the unemployed and the time it takes to find a new job (frictional unemployment). Behavioral economics highlights phenomena such as sticky wages and efficiency wages which may lead to unemployment.
There is also disagreement on how exactly to measure unemployment. Different countries experience different levels of unemployment; traditionally, the United States tends to experience lower unemployment levels than countries in the European Union,[3] although there is some variation there, with countries like the UK and Denmark outperforming Italy and France and it also changes over time (e.g. the Great Depression) throughout economic cycles.
Monday, August 23, 2010
NEPAL: Unemployment Creating Inferiority Complex
This is the real Story. These days, my friend Bimal is mostly found staying at home. As far as he can manage he does not go out at all, but if he does come out he selects the shortest route if possible, but if he fails to do so, prefers an isolated way even if he may have to cover a longer distance. He has learnt to suppress his desires of walking or strolling, or to say it frankly, his present condition and mental state have taught him to kill his desire. That's why he mostly stays at home.
The busy streets of Kathmandu are rarely without people and the possibility of meeting acquaintances is rather great. The small town forces him to imprison himself within his home. In case he came across some relatives or friends, he would be bombarded with questions like "where is your job nowadays, what have you been doing, why is a highly capable man like you keeping yourself aloof...," and on and on and on.
Thus, he has experienced an inferiority complex many times, trying to answer their nosy enquiries. On several occasions he has felt low in front of his former class-friends seeing them walking proudly in the national dress of Daura and Suruwal. It is to save himself from depression and an increasing inferiority complex arising out of such chance encounters that he does not like to go out for a walk.
It's true that he does possess good intelligence. As a student at his school and college, he had proved to be quite brilliant. Due to his poor financial background, he could not carry on his higher studies beyond his bachelor's degree. He had, therefore, no other option but to rush to get a job. He needed a job not only for himself but to maintain his entire family.
The busy streets of Kathmandu are rarely without people and the possibility of meeting acquaintances is rather great. The small town forces him to imprison himself within his home. In case he came across some relatives or friends, he would be bombarded with questions like "where is your job nowadays, what have you been doing, why is a highly capable man like you keeping yourself aloof...," and on and on and on.
Thus, he has experienced an inferiority complex many times, trying to answer their nosy enquiries. On several occasions he has felt low in front of his former class-friends seeing them walking proudly in the national dress of Daura and Suruwal. It is to save himself from depression and an increasing inferiority complex arising out of such chance encounters that he does not like to go out for a walk.
It's true that he does possess good intelligence. As a student at his school and college, he had proved to be quite brilliant. Due to his poor financial background, he could not carry on his higher studies beyond his bachelor's degree. He had, therefore, no other option but to rush to get a job. He needed a job not only for himself but to maintain his entire family.
Resources
Progress has been made in exploiting Nepal's natural resources, tourism and hydroelectricity. With eight of the world's 10 highest mountain peaks, including Mount Everest at 8,850 m. In the early 1990s, one large public sector project and a number of private projects were planned; some have been completed. The most significant private sector financed hydroelectric projects currently in operation are the Khimti Khola (60 MW) and the Bhote Koshi Project (36 MW).The project is still undergoing and has dependancy on India to take the further steps.
The environmental impact of Nepal's hydroelectric projects has been limited by the fact that most are "run-of-river" with only one storage project undertaken to date. The largest under active consideration is the private sector West Seti (750 MW) storage project which is dedicated to exports. Negotiations with India for a power purchase agreement have been underway for several years, but agreement on pricing and capital financing remains a problem. Currently demand for electricity is increasing at 8%-10% a year whereas Nepal's option to have agreement with India will make this fulfillment against demand.
Population pressure on natural resources is increasing. Over-population is already straining the "carrying capacity" of the middle hill areas, particularly the Kathmandu Valley, resulting in the depletion of forest cover for crops, fuel, and fodder and contributing to erosion and flooding. Although steep mountain terrain makes exploitation difficult, mineral surveys have found small deposits of limestone, magnesite, zinc, copper, iron, mica, lead, and cobalt.
The environmental impact of Nepal's hydroelectric projects has been limited by the fact that most are "run-of-river" with only one storage project undertaken to date. The largest under active consideration is the private sector West Seti (750 MW) storage project which is dedicated to exports. Negotiations with India for a power purchase agreement have been underway for several years, but agreement on pricing and capital financing remains a problem. Currently demand for electricity is increasing at 8%-10% a year whereas Nepal's option to have agreement with India will make this fulfillment against demand.
Population pressure on natural resources is increasing. Over-population is already straining the "carrying capacity" of the middle hill areas, particularly the Kathmandu Valley, resulting in the depletion of forest cover for crops, fuel, and fodder and contributing to erosion and flooding. Although steep mountain terrain makes exploitation difficult, mineral surveys have found small deposits of limestone, magnesite, zinc, copper, iron, mica, lead, and cobalt.
Imports/Exports
Nepal's merchandise trade balance has improved somewhat since 2000 with the growth of the carpet and garment industries. In FY 2000-01 exports posted a greater increase (14%) than imports (4.5%), helping bring the trade deficit down by 4% from the previous year to $749 million. Trade with India rose rapidly after conclusion of the 1996 bilateral trade treaty between the two countries, and now accounts for 43% of all exports. Even though China is the 2nd largest exporter to Nepal, yet unlike India which is the largest buyer of Nepal's goods, China's imports from Nepal are zero, thus burdening Nepal's monetary stability and monetary balance. The annual monsoon rain, or lack of it, strongly influences economic growth. From 1996 to 1999, real GDP growth averaged less than 4%. The growth rate recovered in 1999, rising to 6% before slipping slightly in 2001 to 5.5%.
Strong export performance, including earnings from tourism, and external aid have helped improve the overall balance-of-payments situation and increase international reserves. Nepal receives substantial amounts of external assistance from India, the United Kingdom, the United States, Japan, Germany, and the Scandinavian countries. Several multilateral organizations, such as the World Bank, the Asian Development Bank, and the UN Development Programme also provide assistance. In June 1998, Nepal submitted its memorandum on a foreign trade regime to the World Trade Organization and in May 2000 began direct negotiations on its accession.
Strong export performance, including earnings from tourism, and external aid have helped improve the overall balance-of-payments situation and increase international reserves. Nepal receives substantial amounts of external assistance from India, the United Kingdom, the United States, Japan, Germany, and the Scandinavian countries. Several multilateral organizations, such as the World Bank, the Asian Development Bank, and the UN Development Programme also provide assistance. In June 1998, Nepal submitted its memorandum on a foreign trade regime to the World Trade Organization and in May 2000 began direct negotiations on its accession.
unemployment in nepal
An isolated, agrarian society until the mid-20th century, Nepal entered the modern era in 1951 without schools, hospitals, roads, telecommunications, electric power, industry, or civil service. The country has, however, made progress toward sustainable economic growth since the 1950s and is committed to a program of economic liberalization.
Nepal has used a series of five-year plans in an attempt to make progress in economic development. It completed its ninth economic development plan in 2002; its currency has been made convertible, and 17 state enterprises have been privatized. Foreign aid accounts for more than half of the development budget. Government priorities over the years have been the development of transportation and communication facilities, agriculture, and industry. Since 1975, improved government administration and rural development efforts have been emphasized.
Agriculture remains Nepal's principal economic activity, employing 80% of the population and providing 37% of GDP. Only about 20% of the total area is cultivable; another 33% is forested; most of the rest is mountainous. Rice and wheat are the main food crops. The lowland Terai region produces an agricultural surplus, part of which supplies the food-deficient hill areas.
Economic development in social services and infrastructure has made dramatic progress due to GDP dependency on India. A countrywide primary education system is under development, and Tribhuvan University has several campuses. Although eradication efforts continue, malaria had been controlled in the fertile but previously uninhabitable Terai region in the south. Kathmandu is linked to India and nearby hill regions by road and an expanding highway network. The capital was almost out of fuel and transport of supplies caused by a crippling general strike in southern Nepal on February 17, 2008 Major towns are connected to the capital by telephone and domestic air services. The export-oriented carpet and garment industries have grown rapidly in recent years and together now account for approximately 70% of merchandise exports.
Nepal has used a series of five-year plans in an attempt to make progress in economic development. It completed its ninth economic development plan in 2002; its currency has been made convertible, and 17 state enterprises have been privatized. Foreign aid accounts for more than half of the development budget. Government priorities over the years have been the development of transportation and communication facilities, agriculture, and industry. Since 1975, improved government administration and rural development efforts have been emphasized.
Agriculture remains Nepal's principal economic activity, employing 80% of the population and providing 37% of GDP. Only about 20% of the total area is cultivable; another 33% is forested; most of the rest is mountainous. Rice and wheat are the main food crops. The lowland Terai region produces an agricultural surplus, part of which supplies the food-deficient hill areas.
Economic development in social services and infrastructure has made dramatic progress due to GDP dependency on India. A countrywide primary education system is under development, and Tribhuvan University has several campuses. Although eradication efforts continue, malaria had been controlled in the fertile but previously uninhabitable Terai region in the south. Kathmandu is linked to India and nearby hill regions by road and an expanding highway network. The capital was almost out of fuel and transport of supplies caused by a crippling general strike in southern Nepal on February 17, 2008 Major towns are connected to the capital by telephone and domestic air services. The export-oriented carpet and garment industries have grown rapidly in recent years and together now account for approximately 70% of merchandise exports.
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