The Labour Market: Chapter 3

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  • Created on: 25-03-19 10:26
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  • The Labour Market: Chpt 3
    • Unemployment
      • Able
      • Willing
      • Availbable
      • Measures of...
        • LFS
          • Internationally Comparable
          • Larger
          • Released Quarterly
        • CC
          • Smaller
            • Only includes those who claim
              • Some don't
                • Dependent
                • Autonomous
          • Dependent on eligibility
      • Current levels of...
        • At an all time low
          • Increasing presence of the gig economy
            • Self-employed
              • Can choose availability
              • Set own hours
            • Uber, Deliveroo
            • Unstable
        • An increase in underemployment
          • 0hr Contracts
      • 'I can't find what I want, where I am'
        • Occupational Immobility
          • Geographical Immobility
    • Why an issue?
      • Decreases in disposable income
      • Decrease in growth
      • Decrease in spending
      • Increase in people reliant on the state
      • Increase in social problems
      • Decrease in job security
        • Decrease in consumer confidence
    • Normal / Natural
      • Frictional
      • Between jobs
      • Derived demand from a dynamic economy
      • They are 'reallocated'
    • Minimum Wage Legislation
      • Simple to regulate and understand
        • Everybody, Everywhere
          • Incentives for different professions not accounted for
          • National not regional
          • Cost of living not accounted for
      • Increase in incentives to work
      • Increase in social mobility
      • Decrease in social issues
      • Decrease the Gini coefficient
      • Causes unemployment
        • Some leave jobs as others more attractive
          • Less stress
          • Equal reward
        • Some redundancies
          • Firms have to keep costs low and get rid of highest cost = staff
      • The Living Wage
        • Proposed in LNDN
        • Problem at the margin
    • Element of voluntary unemployment
      • Short-term
      • Looking for other jobs
      • Geograpically restrained
        • Geographical Immobility
    • North/South Divide
      • N = Stronger family ties
        • Cost of Living is lower
          • More likely for supply to be wage elastic

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