Unit 2 Eco Chapter 09: Employment & Unemployment Flashcards
0
Q
Define unemployment
A
Those under 15 who are not employed and had actively looked for a full time or part time work
1
Q
Define employment
A
Individual who is over the age of 15 and works for at least 1 hour and gets paid.
2
Q
What is the unemployment rate
A
Unemployment = total number unemployed
——————————- x 100
Labour force
3
Q
Participation rate
A
Participation = Labour force
———————— x 100
Total pop. over 15
4
Q
Define disguised unemployed
A
People who work part time and would like to work more hours
5
Q
Define hidden unemployment
A
People who are unemployed but are not seeking employment
