2.1.3 - Employment & Unemployment

Question 1

What Is Unemployment?
(2 Points)

Answer 1

~ Is the number of people looking for work but cannot find a job at a certain point in time.
~ Wanting to work, able to work but unable to find a job.

Question 2

What Is The Unemployment Level?

Answer 2

The number of people who are unemployed.

Question 3

What Is Unemployment Rate & The Formula?
(2 Points)

Answer 3

~ The number of people unemployed as a percentage of the labour force.
~ Unemployed / Labour Force x 100.

Question 4

What Is Meant By Underemployed?
(3 Points)

Answer 4

~ Underuse of a worker.
~ Workers want more hours than they currently work.
~ They are working in a job that requires lower skills than they have.

Question 5

What Is The Labour Force?
(2 Points)

Answer 5

~ Consists of all workers actively working and the unemployed seeking work.
~ Usually between the ages of 16-65.

Question 6

What Is The Non-Labour Force?

Answer 6

Includes all those not seeking work.

Question 7

Who Are The Economically Inactive?

Answer 7

Are those people who are between the ages of 16-65 and are not working or seeking work.