Background
The “registered unemployed” refers to individuals who are officially recorded as unemployed and are in receipt of unemployment-related benefits. This classification is used by government and official agencies responsible for administering these benefits.
Historical Context
The concept of registered unemployment has evolved to provide a systematic way to measure and administer benefits to unemployed individuals. Historically, it began as a method to ensure that only those genuinely seeking work would receive financial support from the state.
Definitions and Concepts
Registered Unemployed: Unemployed persons who are registered with official agencies and receive unemployment-related benefits, often referred to as claimants.
Major Analytical Frameworks
Classical Economics
Classical economists focus on the long-term dynamics of a freely functioning market, generally assuming that the labor market reaches equilibrium where the number of job seekers equals the number of job vacancies, without directly addressing the impact of state-administered benefits.
Neoclassical Economics
Neoclassical economists extend classical ideas with some considerations on the micro-level labor supply and demand balance. They suggest that unemployment benefits can affect individual incentives, potentially increasing the number of claimants.
Keynesian Economics
Keynesians stress that insufficient demand leads to increased unemployment. They argue that registered unemployment figures can illustrate this demand deficiency, and advocate for policies that boost aggregate demand to reduce unemployment.
Marxian Economics
Marxian economists view registered unemployment through the lens of capitalist structures perpetuating labor exploitation and control. The figures serve as an indicator of the reserve army of labor, which the capitalist system maintains to suppress wages.
Institutional Economics
Institutional economists emphasize the role of legal and informal institutions in shaping labor markets. They might study how registered unemployment figures reflect institutional supports or failings in delivering unemployment benefits effectively.
Behavioral Economics
Behavioral economics seeks to understand how psychological factors influence economic decisions, including why individuals might opt to register for unemployment benefits and how the registration process could be optimized to reflect true unemployment rates.
Post-Keynesian Economics
Post-Keynesians argue registered unemployment should encompass broader macroeconomic factors. They might analyze discrepancies between registered unemployment and labor force survey unemployment as indicative of wider economic misalignments.
Austrian Economics
Austrian economists critique the interventionist policies that lead to benefits administration, arguing such policies distort market signals and perpetuate unemployment.
Development Economics
In the context of developing economies, registering unemployed individuals can be challenging due to informal job markets. Developmental economists often focus on measuring unemployment more effectively to create better policy support.
Monetarism
Monetarists believe that monetary policy profoundly impacts unemployment rates. They might examine the relationship between registered unemployment and inflationary policies.
Comparative Analysis
The distinction between registered unemployment and labor force survey-based unemployment is significant. While registered unemployment figures are typically lower, they do not account for all who consider themselves unemployed but are not receiving benefits.
Case Studies
Researchers and policymakers often analyze countries with varying approaches to unemployment benefits to compare registered unemployment rates. For instance, comparisons between the UK and US can reveal how different administrative systems affect these statistics.
Suggested Books for Further Studies
- “Unemployment Benefits and the Labor Market: Evidence from a Large Discontinuity” by Thomas Lemieux.
- “The Economics of Unemployment: A Comparative Analysis” by Richard Layard, Stephen Nickell, and Richard Jackman.
- “Dorling Kindersley Economics: The User’s Guide” by Ha-Joon Chang.
Related Terms with Definitions
- Frictional Unemployment: Unemployment that results from the time that it takes to match workers with available jobs.
- Structural Unemployment: Unemployment resulting from industrial reorganization, typically due to technological change, not just cyclical unemployment.
- Cyclical Unemployment: Unemployment linked to the cyclical trends in the economy, rising and falling with economic growth and recessions.
- Discouraged Workers: Individuals not actively seeking employment because they believe no jobs are available for them.
This structured entry provides a robust overview designed to inform those unfamiliar with the nuances of registered unemployment and related economic concepts.
