T2: LS9 - Employment & Balance Of Payments

Question 1

Define Employment

Answer 1

Employment: refers to individuals aged 16 or over who are in paid work which can be as employees or self-employed

Question 2

Define unemployment

Answer 2

Unemployment refers to individuals aged between 16-64, who or without a job, want a job, have actively sought work in the last four weeks, are available to start in the next two weeks

Question 3

Claimant count definitions

Answer 3

• those who are claiming work related benefits like the JSA
  Requirements:
• out of work, capable of work, Ava liable for work and actively seeking work in that week

Question 4

ILO unemployment defintion

Answer 4

(International labour organisation)
- without a job
- want a job
- actively sought work in the last 4 weeks
- available to start work in the next two weeks
- or waiting to start in the next 2 weeks

Question 5

Underemployment definition

Answer 5

• workers are in jobs below their skill level
• working less hours than they can and want to work