Chapter 30: Employment and unemployment Flashcards
Employment
Being involved in a productive activity for which a payment is received
Unemployment
Being without a job while willing and able to work
Flexible labour force
A labour force is one which adjusts quickly and smoothly to changes in market conditions
Economically active
Those in the labour force, both the employed and the unemployed
Economically inactive
Those not in the labour force
Labour market participation rate
The proportion of the working-age population who are in the labour force
Claimant count
A measure of unemployment which counts as unemployed those in receipt of unemployment benefits
Labour force survey (ILO) Measure
A measure of unemployment which counts as unemployed people who identify as such in a survey
Frictional unemployment
Temporary unemployment arising from workers being in between jobs
Structural unemployment
Unemployment caused by long-term changes in the pattern of demand and methods of production
Cyclical unemployment
Unemployment caused by a lack of aggregate demand
Search unemployment
Unemployment arising from workers who have lost their jobs looking for a job they are willing to accept
Casual unemployment
Unemployment arising from workers regularly being between periods of employment
Seasonal unemployment
Unemployment caused by a fall in demand at particular times of the year
Regional unemployment
Unemployment caused by a decline in job opportunities in a particular area of the country
