ترجمه متون اقتصادی، متن چهارم

Unemployment
Economists used to classify unemployment as frictional, structural, demand-deficient and classical. We discuss each in turn.
Frictional Unemployment
This is the irreducible minimum level of unemployment in a dynamic society. It includes people whose physical or mental handicaps make them almost unemployment, but it also include the people spending short spells in unemployment as they hop between jobs in an economy where both the labor force and the jobs on offer are continually changing.
Structural Unemployment
In the longer run, the pattern of demand and production is always changing. In recent decades, industries such as textiles and heavy engineering have been declining in the UK. Structural unemployment refers to unemployment arising because there is a mismatch of skills and jobs opportunities when the pattern of demand and production changes. For example, a skilled welder may have worked for 25 years in shipbuilding but is made redundant at 50 when the industry contracts in the face of foreign competition. That worker may have to retrain in a new skill which is more in demand today's economy. But firms may be reluctant to take on and train older workers. Such workers become the victims of structural unemployment.
Demand-deficient Unemployment
This refer to Keynesian unemployment; when aggregate demand falls and wages and prices have not yet adjusted to restore full unemployment. Aggregate demand is deficient because it is lower than full-employment aggregate demand.
Until wages and prices have adjusted to their new long-run equilibrium level, a fall in aggregate demand will lead to lower output and employment. Some workers will want to work at the going real wage rate but will be unable to find jobs. Only in the longer run will wages and prices fall enough to boost the real money supply and lower interest rates to the extent required to restore aggregate demand to its full employment level, and only then will demand-deficient unemployment be eliminated.
Classical Unemployment
Since the classical model assumes that flexible wages and prices maintain the economy at full employment, classical economists had some difficulty explaining the high unemployment levels of the 1930s. Their diagnosis of the problem was partly that union power was maintaining the wage rate above its equilibrium level and preventing the required adjustment from occurring. Classical unemployment describes the unemployment created when the wage is deliberately maintained above the level at which the labor supply and labor demand schedules intersect. It can be caused either by the exercise of trade union power or by minimum wage legislation which enforces a wage in excess of the equilibrium wage rate.
The modern analysis of unemployment takes the same type of unemployment but classifies them rather differently in order to highlight their behavioral implications and consequences for government policy. Modern analysis stresses the difference between voluntary and involuntary unemployment.