Theme 2 - Employment and unemployment

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  • Created by: becky.65
  • Created on: 21-05-17 13:32
What is employment?
All those people aged between 16 and 64 who are in work
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What is unemployment?
The number of people able and willing to work but not able to find a paying job
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What is underemployment?
Those who are employed but are in work that does not fully utilise their qualifications or to those forced into part-time employment
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What are the two ways of calculating the number of unemployed?
Claimant count and International Labour Organisation
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What is structural unemployment?
When people have the wrong skills for the employment on offer or are located far away from the job
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What is occupational immobility of labour?
Unemployed people do not have the necessary skills and abilities to adapt to changing job requirements
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What is geographical immobility of labour?
Labour cannot move to areas where jobs are avaliable
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What is technological unemployment?
It is caused by technological change whereby fewer employees are needed
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What is cyclical unemployment?
It is caused by a downturn in the economic cycle so firms need fewer workers and unemployment rises
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What is frictional unemployment?
Those who have left one job but have not yet started a new one
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What effect does rising unemployment have on the government?
It raises government spending on unemployment benefits which is an opportunity cost as this money could have been used elsewhere; they receive less tax revenue which places a strain on government expenditure
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Other cards in this set

Card 2

Front

What is unemployment?

Back

The number of people able and willing to work but not able to find a paying job

Card 3

Front

What is underemployment?

Back

Preview of the front of card 3

Card 4

Front

What are the two ways of calculating the number of unemployed?

Back

Preview of the front of card 4

Card 5

Front

What is structural unemployment?

Back

Preview of the front of card 5
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