2.1.3 - Employment & Unemployment Flashcards
1
Q
What Is Unemployment?
(2 Points)
A
~ 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.
2
Q
What Is The Unemployment Level?
A
The number of people who are unemployed.
3
Q
What Is Unemployment Rate & The Formula?
(2 Points)
A
~ The number of people unemployed as a percentage of the labour force.
~ Unemployed / Labour Force x 100.
4
Q
What Is Meant By Underemployed?
A
Underuse of a worker.
