involuntary unemployment

Involuntary Unemployment

In Keynesian economics, unemployment that results from low levels of investment and high levels of savings. That is, because entrepreneurs and others are saving more than they are investing, they may not have enough money remaining to keep employees on staff. See also: Cyclical unemployment.

involuntary unemployment

UNEMPLOYMENT that results from workers being unable to find paid jobs even though they are prepared to work at current wage rates because there are insufficient jobs available due to recession or because they do not have the necessary skills to perform available work. Contrast VOLUNTARY UNEMPLOYMENT. See SUPPLY-SIDE ECONOMICS.
References in periodicals archive ?
SB 1128 also would find and declare that "unemployment insurance, workers' compensation insurance and state disability insurance, are part of a comprehensive and integrated social insurance program designed to alleviate the burden and reduce the suffering from a covered employee's loss of wages as a result of involuntary unemployment, industrially caused disability, or disability of a non-occupational nature.
If so, they would imply barriers to entry that lead to involuntary unemployment.
As for the employment situation, the agency said in the monthly report it "is still severe" and "the unemployment ratio stays at a high level with an increase in involuntary unemployment.
By contrast, eliminating poverty and involuntary unemployment would relieve vast suffering.
Since the 1970s, the persistently high unemployment rates in many industrial economies have made more and more economists believe that involuntary unemployment is one of the major stylized facts of modern economies.
People need to be reassured more than ever before that, through thick and thin, their health will be looked after, their children educated and a safety net provided for their old age and periods of involuntary unemployment," he said.
These data indicate that, compared with high-income households, lowincome households tend to have relatively few assets available for a downpayment on a home; if they have consumer debt, tend to have relatively high repayment burdens and are more likely to have fallen behind in their scheduled debt repayments; and generally have more periods of involuntary unemployment or reduced work hours.
The system needs some involuntary unemployment as a pressure for wage restraint balancing the pressure of unrealized aspirations for a higher standard of living.
Involuntary unemployment is not inevitable, but it is common.
These principally were the Social Security Act (1935), which provided for a measure of protection against old-age dependency and involuntary unemployment through social insurance, and for several categorical public assistance programs, and the Fair Labor Standards Act (1938), which established minimum wage, maximum hour, and child labor standards for workers in industries engaged in commerce or in the production of goods for commerce.
Partially offsetting these positive rating factors are Triton's distribution dependence on OneMain Financial and CitiFinancial Canada and the underwriting sensitivity of its involuntary unemployment insurance business regarding initial unemployment claims filed in the United States and Canada.
Circumstances of involuntary unemployment or disability with a reduction in earned income