33 Employment Flashcards
Employment
Number of people of working age in the population who are in work
Employment rate
Proportion of the working age population in work
Unemployment rate
Proportion of working age seeking work (economically active) but who do not have a job
Voluntary unemployment
When an individual chooses not to accept a job at the going wage rate.
Involuntary unemployment
When an individual would like to accept la job at the going wage rate but is unable to find employment
Labour market participation rate
Proportion of working age people who are economically active (in employment or actively seeking )
Economically active
Working age people where who are neither in employment nor unemployed and so are not part of the labour force
Full employment
When all choose that are economically active and are willing and able to work have a job.
- economy is making effective use of its resource of human capital stock l. e. Labour force
- no spare capacity and will operate on PPC
Labour force survey
Measure of Tue percentage of the workforce who are without jobs but are available for work, looking for work and willing to work
Occupational immobility
Barriers to workers changing occupations
Geographical immobility
Barriers to the movement of workers between regions
Advantages of labour force survey
_ Measure can be used to make international comparisons
Disadvantages of labour force survey
- surveying households and extrapolating data from a sample
- not July representative
Claimant count
Measure of the number of people registered as unemployed and claiming job seekers annoyance
Advantage of claimant count
- conducted cheapus and Cassius as government already has record of number of people claiming JSA