Abstract
The labor market in the Republic of Macedonia is characterized by a high and ongoing unemployment rate. Slow economic growth does not allow the creation of new vacancies nor the maintenance of a stable employment rate. Unemployment is considered the country's main economic problem. In 2016, the average rate of unemployment was 28%. Most of the unemployed belong to the population aged 25 to 49, which accounts for over 60% of the total number of unemployed. On the other hand, inflation is also considered a main concern for the economy of the country. Its consequences are less obvious than the consequences of unemployment, but they do bring about also significant losses to the country's economy, leading to the redistribution of wealth between different classes or strata of society, inefficient allocation of production resources as well as the devaluation of our currency. The purpose of this paper is to analyze the relationship and impact of inflation and the economic growth in the unemployment of the Republic of Macedonia
Highlights
Unemployment presents the most drastic form of social inequality
Materials and Methodology As the main source of this paper that we have provided for analysis we have obtained critical data from the Statistical Office of Northern Macedonia and from the research papers of many authors mainly in the macroeconomic field, as well as a section we have obtained from the website using the theory analysis method over unemployment as a distinct social phenomenon
The slow economic growth of this country does not allow the creation of new jobs and a stable employment rate
Summary
Unemployment presents the most drastic form of social inequality. The unemployed are just consumers and a burden for the society as they depend on others. Countries which have a low rate of unemployment, are more stable societies, while countries with high unemployment are characterized by social tension and unstable societies. Unemployment, as general social phenomenon, it has been present for a long time in all the countries of the world, no matter their scale of development and their socio-economic regulation. Unemployment as a social phenomenon is have been around the world for a long time and often many countries have been forced to make extremely huge measures to eliminate or overcome this social phenomenon. Unemployment was initially identified as a preference for the unemployed for leave, but since the level of pay offered is lower than they would like for their future, the example of voluntary or willful unemployment, which adversely affects the level of domestic production and economic activity as a whole. The real problems of unemployment relate more to involuntary unemployment, that is to say, the unemployment that results from a weak economy unable to employ the labour force, when it is ready to be employed at a decent wage
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