Unemployment
Ahmed Gamal
Story: Talking to my daughter about
the economy
–12,000 years ago (Agriculture and hunting)
–Agricultural revolution >> a new social class>>> new jobs>> a state >> a currency
–Economy= household management
–The Capitalist system (Lords and farmers)
–International Trade (Sailors and traders from India)
–Trade over agriculture >> firing more farmers…. Unemployment –
–Industrial revolution>> Machines over farmers
–More machines = less employees
–Artificial intelligence
–Google Assistant
Yossef is unemployed!
–Labor force= employed+ unemployed
–unemployment rate: the percentage of the labor force that is
unemployed
–Unemployed: Someone who is not currently at work but who is available
for work and who has actively looked for work during the previous
month
Discouraged workers: People who
are available for work, but have not
–
