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 ?
It provides secured and unsecured personal loans; credit insurance products, such as life insurance, disability insurance, protection, and involuntary unemployment insurance products; non-credit insurance; and ancillary products, such as auto membership plans.
Kreickemeier (TU Dresden) develops frameworks for modeling the interactions between international trade and labor markets in which the labor market is free of distortion, features exogenous minimum wage rates, is unionized, and reflects involuntary unemployment due to the fair wage preference of workers.
1036 that seeks to expand SSS benefits to include immediate economic relief for workers who suffer from the setback of involuntary unemployment.
The bank promoted these products as providing a monthly payment to the cardholders account in the event of certain hardships like involuntary unemployment, hospitalization, or disability.
Among those who recognised the reality of involuntary unemployment were John Maynard Keynes and Arthur Lewis, who incorporated it into his model of dual economies, in which urban wages do not respond to labour-supply gluts and remain above what rural workers earn.
The protection kicks in in cases of a borrower's death, disability or involuntary unemployment, the insurer said.
In this collection of eight chapters, international contributors address major themes such as the gender wage gap, the impact of voluntary and involuntary unemployment, human capital investment, and displaced workers.
In The Consequences of the Global Financial Crisis, the chapter authors discuss the effects of the 2008 deep financial crisis in relation to the main economic paradigms, showing that there have been no significant changes in the teaching of economics and in public policies in spite of the financial crisis and the profound economic recession, with its accompanying massive involuntary unemployment.
either they adopted the conventional neoclassical assumption of labour market clearing or they assumed the presence of involuntary unemployment due to wage rigidities but ignored the existence of vacancies, and thus there is full employment in the demand side of the market).
First, efficiency wage considerations derive the occurrence of involuntary unemployment only from simple profit maximization of the firm.
IncomeAssure payments supplement state unemployment benefit payments that are received due to involuntary unemployment, so that the combined amount received from both state benefits and IncomeAssure is 50% of former pay.
The program assists homeowners who have lost income and are at risk of foreclosure because of involuntary unemployment or underemployment due to economic conditions or a medical condition.