Low unemployment

Question 1

How is unemployment measued

Answer 1

Claimant count
Labour force survery

Question 2

Causes and types of unemployment

Answer 2

Seasonal unemployment
Frictional unemloyment
Structurl unemployment
Cyclical unemploymeny

Question 3

Benefits of unemployment

Answer 3

frictionally unemployed
Wage rates down as workers are competing
Costs are lower so firms are more competitve

Question 4

Costs of unemployment to individuals

Answer 4

Lower standards of living
Loss of status and self esteem
Excluded workers- may become unemployable
Cost to taxpayers to pay for benefits

Question 5

Costs of unemployment to government

Answer 5

labour resources are wasted
unemployment leads to more unemployment
Budget deficit

Question 6

Costs of unemployment to regions

Answer 6

unemploymen is often spread unevenly throughout country- areas become depressed areas and people move out. lack of demand causes more unemployment . crime rate in these areas increase