Employment and Unemployment Flashcards
Seasonal unemployment
is where employment would vary depending on seasonal changes in demand for the good or service that is derived from this labour.
Frictional unemployment
is where there are slow movements one job sector to the next.
Cyclical unemployment
is where employment changes due to the cyclical patterns of economic growth in an economy
Structural unemployment
describes a situation where individuals’ skillset do not match the vacancies available in the economy.
How is employment and unemployement determined by demand side factors?
Changes in…
income tax
wages
How is employment determined by supply side factors?
- Better transportation/ commuting
- An increase in the number of free govt. run health care provisions (large labour force)
- increased spending on education sector (skilled labour)
How does changes in the rest of the world affect employement in UK
What are the measures of unemployment?
Claimant count, labour force survey
Make flashcards on phillips curve
https://www.youtube.com/watch?v=jzhFracXeUY
CASE STUDY: FILL IN
Youth unemployment rate is a major problem in Sri Lanka, it is currently _ times higher than the _________ __________ rate
unemployment rate - 4.8% and rising
youth unemployment rate - 24% and rising
5, overall unemployment
CASE STUDY: FILL IN
Sri Lanka has experienced a _____ drain with around ___ thousand skilled workers leaving in 2022 alone, this is a significant loss given that the population is just over 22 million
brain, 300
