UNEMPLOYMENT

Question 1

WHAT IS UNEMPLOYMENT?

Answer 1

THOSE WHO R WILLING AND ABLE TO WORK AT THE GPING WAGE RATE BUT DON’T HAVE A JOB.

Question 2

WHAT R THE 2 WAYS OF MEASURING UNEMPLOYMENT?

Answer 2

1. CLAIMANT COUNT
2. LFS/ ILO UNEMPLOYMENT

Question 3

WHY IS THERE A DIFFERENCE BETWEEN LFS AND THE CLAIMANT COUNT?

Answer 3

1. SOME PEOPLE WHO WANT TO WORK R INELIGIBLE FOR BENEFITS DUE TO HIGH SAVINGS OR A PARTNER WITH HIGH INCOME
2. SOME PEOPLE DON’T REGISTER FOR BENEFITS DUE TO STIGMA OF RELYING ON THE STATE FOR HANDOUTS
3. LFS SURVEY COUNTS 16-17 YR OLDS BUT CLAIMANT COUNT STARTS AT 18

Question 4

R THERE ANY GROUPS NOT INCLUDED WITHIN EITHER OF THESE STATISTICS?

Answer 4

1. THOSE WHO R ECONOMICALLY INACTIVE E.G DISABLED/CHILDREN/RETIRED
2. THOSE WHO R VOLUNTARILY UNEMPLOYED
3. WORKERS NOT INCLUDED IN OFFICIAL STATS E..G ILLEGAL IMIGRANTS, HOMELESS, BLACK MARKET WORKERS ETC

Question 5

WHAT DOES IT MEAN TO BE VOLUNTARILY UNEMPLOYED?

Answer 5

THOSE WHO R NOT WILLING TO WORK AT THE GOING WAGE RATE.

Question 6

WHY DOES THE UK LABOUR MARKET TYPICALLY HAVE THOUSANDS OF JOB VACANCIES BUT ALSO UNEMPLOYMENT?

Answer 6

SKILLS MISMATCH

Question 7

WHAT IS UNDEREMPLOYMENT?

Answer 7

WHEN PEOPLE R WILLING TO WORK MORE.

Question 8

WHY IS THE GOVT PARTICULARLY CONCERNED ABOUT YOUTH AND LONG TERM UNEMPLOYMENT?

Answer 8

1. MAY BECOME DISCOURAGED WORKERS AND NEVER FIND WORK BECOMING A LONG TERM COST
2. IF UNI AND SCHOOL GRADUATES CAN’T FIND WORK, THE MONEY SPENT TRAINING THEM WAS WASTED AND THEIR SKILLS WILL DEPRECIATE

Question 9

WHY HAVE WAGES IN THE UK STAYED LOW EVEN THOUGH UNEMPLOYMENT IS FALLING?

Answer 9

WORKERS ACCEPT LOWER REAL WAGES TO AVOID UNEMPLOYMENT.

Question 10

WHAT IS THE GOVT TARGET FOR UNEMPLOYMENT?

Answer 10

FULL EMPLOYMENT

Question 11

WHAT CAN FULL EMPLOYMENT BE DEFINED AS?

Answer 11

1. EVERY1 HAS A JOB
2. LABOUR MARKET IN EQUILIBIUM
3. NUMBER OF VACANCIES MATCH THE NUMBER OF PEOPLE WITHOUT A JOB