Unemployment Flashcards
1
Q
How to measure unemployment?
A
- Claiment count = no. people receiving benefits for being unemployed
- Labour force survey = ILO, measure of people who have looked for work for 4 weeks and can start work in 2 weeks
2
Q
What is underemployment?
A
- working part time or zero hours
- employed below skill set
- looking for additional jobs
- looking for more hours
3
Q
What is migration and its effects?
A
Movement of people to a new area/ country to find work etc.
- can create new jobs
- new skills
- increase competition
4
Q
What is structural unemployment?
A
Demand changes
Geographical = inability of workers to move
Occupational = lack of skills
Long term = number of people out of work for at least 1 year
5
Q
What is frictional unemployment?
A
People moving between jobs (reason there is always unemployment)
6
Q
What is seasonal unemployment?
A
Industry only operates during a certain season
7
Q
What is cyclical unemployment?
A
Recession/ slow down in economic growth
8
Q
What is real wage unemployment?
A
Real wages above equilibrium - excess supply of labour
