REPORT

The following assessment task describes the situation or impact of unemployment in two major economies of Australia and United Kingdom. After these economies were hit by financial crisis the report describes the ways they tackle to unemployment after that. The report first describes how unemployment started to came in large picture in Australia. As the report continues it describes the policies and measures taken by government and how effective these were. It clearly describes the consequences of unemployment in the country economy. It will enable us to understand the situation precisely and have a better clarity on the situation of unemployment.

INTRODUCTION

   Unemployment refers to a situation where people who are able and willing to do work are not getting work. In other words, it occurs when a person who is actively searching for employment is not able to get any job. However, unemployment is frequently used as a measure of gathering the health of the economy. It adversely affects the economy resulting in underutilization of resources, recession and increased government expenditure. It also leads to social unrest and wide gap between the different sections of the society.  Any graduate individual who has some experience in the corporate world will be clearly vocalizing that, in current scenario trying to beget and sustain a apposite financial status in the corporate sector is not an stress-free undertaking at all.

Attaining a job in itself is such a tough mission indeed, so many persons are obligated to stick with jobs they aren’t even happy doing. Of all the major issues which individuals in the commercial turf face, one of the principal issues is unemployment

The issue of unemployment is a very serious one indeed, which cannot be tackled easily. Therefore a need arises to discuss & comprehend  about the different unemployment causes and effects of all the many causes of unemployment which exist, the main causes of unemployment can be pointed to the universal economic & fiscal crisis which exists at the moment and has prevailed for a quite a time. This economic predicament has aggravated in a very adverse manner in the matter of the trade between countries. Nations which were formerly rather rich have not been able to withstand the monetary crunch. In order to evade any kinds of key losses, corporations too have begun to reduce the production of their merchandises, since not many individuals are willing to invest a lot of money in procuring things.

In Australia, the situation of unemployment came into large picture from 1929 when it arose sharply till 1950s and 1960s, which were the years of prosperity