IB ECONOMICS - INTERNAL ASSESSMENT
FRONT COVER
“UK unemployment rises at fastest rate in
Title of the article almost five years”
https://www.theguardian.com/business/2018/feb/21
Source of the article /uk-unemployment-rises-at-fastest-rate-in-almost-fi
ve-years
Date the article was published February 21, 2018
Date the commentary was written March 13, 2019
Word count
750 words
(750 words maximum)
Section of the syllabus the article
Section 2: Macroeconomics
relates to
, UK unemployment rises at fastest rate in
almost five years
Connection to article:
This article shows statistics for and describes some possible causes of rising
unemployment in Britain.
Introduction to theory:
Unemployment - people of working age, who are without work, available for work
and actively seeking employment (Blink, Dorton. 2012).
Analysis:
According to the article, the number of jobless people in Britain rose by 46 000 to
stand at 1.47 million. There can be a few reasons for the rise.
As the tendency is among people under the age of 24, the type of unemployment in
Britain might be frictional - the short-term unemployment that occurs when people
are in between jobs, or have left the education and are waiting to take up their first
job (Blink, Dorton. 2012). The rise might have occured because firms prefer
experienced labour to young and inexperienced one. It is also mentioned in the
article that wages rise at the same time as unemployment. The reason might be that
firms prefer paying higher wages to a few older workers than lower wages to
younger, but less skilful ones.
3
FRONT COVER
“UK unemployment rises at fastest rate in
Title of the article almost five years”
https://www.theguardian.com/business/2018/feb/21
Source of the article /uk-unemployment-rises-at-fastest-rate-in-almost-fi
ve-years
Date the article was published February 21, 2018
Date the commentary was written March 13, 2019
Word count
750 words
(750 words maximum)
Section of the syllabus the article
Section 2: Macroeconomics
relates to
, UK unemployment rises at fastest rate in
almost five years
Connection to article:
This article shows statistics for and describes some possible causes of rising
unemployment in Britain.
Introduction to theory:
Unemployment - people of working age, who are without work, available for work
and actively seeking employment (Blink, Dorton. 2012).
Analysis:
According to the article, the number of jobless people in Britain rose by 46 000 to
stand at 1.47 million. There can be a few reasons for the rise.
As the tendency is among people under the age of 24, the type of unemployment in
Britain might be frictional - the short-term unemployment that occurs when people
are in between jobs, or have left the education and are waiting to take up their first
job (Blink, Dorton. 2012). The rise might have occured because firms prefer
experienced labour to young and inexperienced one. It is also mentioned in the
article that wages rise at the same time as unemployment. The reason might be that
firms prefer paying higher wages to a few older workers than lower wages to
younger, but less skilful ones.
3
