Introduction to Unemployment or joblessness

Unemployment or joblessness occurs in a nation when people who actively seek work are without work. A relatively high rate of unemployment is experienced by an economy during periods of recession (Floyd, 2003). There are several factors that assume an important place in explaining the changing level of unemployment in a country. Also, the government of a nation takes certain corrective measures for tackling these factors and curing the problem of unemployment. These are geographical and occupational mobility of labor, flexibility of the labor market etc. There are certain economic factors also that affect the level of unemployment. These are inflation rate, interest rates, productivity etc. the following report makes an attempt to critically evaluate and discuss the factors that assume the most important place in explain the changing level of unemployment in the UK over the last 10 years. The impact of these factors has been critically analyzed. Also, the steps taken by the government to deals with the situation have been discussed in the report.