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Some economists argue that unemployment is largely voluntary and other say it is largely involuntary. Pick...

Some economists argue that unemployment is largely voluntary and other say it is largely involuntary. Pick a point of view and argue for it. Feel free to use real examples for your answer, be sure to address the other side as well, that is not only why your view is right but why the other is not.

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Answer #1

Involuntary Unemployment is a situation where people are ready to work under prevailing wages but unable fin the job example colleges students searching for the job after graduation but unable find the job,

it may be the result of the excess supply of the labors and labor market rigidity. This type of the unemployment problem solved through government policies.

Voluntary unemployment is the situation people are not ready to work for existing wage rate they are unemployed because they are not willing to work at existing wages rate it may be due to skill or knowledge is not relevant for their job.

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