Unemployment Flashcards
1
Q
Outline what is meant by structural unemployment
A
When people become unemployed because the lack certain skills or education
2
Q
Outline what is meant by frictional unemployment
A
When people change jobs or are looking for their first job
3
Q
Outline what is meant by seasonal unemployment
A
When the unemployment rate for lifeguards increases during winter
4
Q
Outline what is meant by cyclical unemployment
A
When there is a direct link between a down turn in the economy and an increase in unemployment
5
Q
Explain how unemployment is measured
A
unemployed divided by labour force multiplied by 100
6
Q
Discuss how unemployment is used as a measure of economic performance
A
It determines the number of people that cant find a job, which signals if the economy is strong or weak
