Economics of the Labour Market

The global crisis has led to dramatic increases in unemployment rates over most of the countries of the OECD. This book provides alternative explanations of this phenomenon. Junankar begins with surveys of the labour market: labour demand, labour supply, and labour force participation. He argues that the growth of unemployment and long-term unemployment is mainly due to a lack of aggregated demand and not due to high unemployment benefits. Economics of the Labour Market shows that unemployment and long-term unemployment impose serious and significant costs on individuals, families, and society in general.
Raja Junankar focuses on vital social issues arising from the malfunctioning of economies and this collection of essays tackles the real cost of unemployment.

Raja Junankar studied at the London School of Economics, and has a PhD from the University of Essex, UK. He has held research and teaching appointments in Australia, Britain, Canada, France, Germany, India, and the USA. He has published several books and refereed papers in leading national and international journals. He is an Emeritus Professor, University of Western Sydney and Honorary Professor, UNSW, Australia.