6. Employment And Unemployment 29 Flashcards
0
Q
Cyclical or Keynesian unemployment
A
When there is insufficient demand in the economy for all workers who wish to work at current wage rates to obtain a job
1
Q
Activity or participation rates
A
The percentage or proportion of any given population in the labour force
2
Q
Frictional unemployment
A
When workers are unemployed for short lengths of time between jobs
3
Q
Net migration
A
Immigration minus emigration.
4
Q
Seasonal unemployment
A
When workers are unemployed at certain times of the year, such as building workers or agricultural workers in winter
5
Q
Structural unemployment
A
When the pattern of demand and production changes leaving workers unemployed in labour markets where demand has shrunk. Eg regional, sectoral or technological.
