Unemployment

notes :)

  • Created by: samadhi
  • Created on: 30-03-13 11:53
Working population
total number of workers employed plus the total number of workers unemployed
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Employment
Full time paid employment, on recognizable training scheme and those working a minimum number of hours per week
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Unemployed
The number of people who are willing and able to work and actively seeking a work but are unemployed.
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Labour force
Those people who are in jobs plus those who are unemployed
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Regional Unemployment
Unemployment associated with particular regions of the country; often due to structural unemployment
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Structural Unemployment
People who are unemployed because of the structure of the economy; eg due to the decline of traditional manufacturing industries.
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Seasonal Unemployment
People who are unemployed because of the season; e.g a fruit picker.
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Real Wage (or classical)
Unemployment caused by real wages being too high.; e.g. because of trade unions powers
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Cyclical (or keynesian)
Unemployment associated with with a slum or downturn in economic activity
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Frictional unemployment
people who are between jobs.
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Voluntary Unemployment
When all those willing and able to work at the given real wage rate are working. that is when the economy is at full employment some people will be still unemployed due to frictional unemployment.
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Involuntary unemployment
Occurs when people are willing and able to work at the given real wage rate but no job is available. That is the economy is below full employment. The worker is involuntarily unemployed id he or she word accept a job at the given real wage
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NAIRU
non accelerating rate of unemployment
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Natural rate of unemployment
This rate of unemployment occurs when inflation is correctly anticipated. this rate of unemployment occurs when the economy is at full employment. that is when the labor market is at full equilibrium.
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Full Employment
Occurs when all those willing and able to work at the given real wage are working. i.e. all unemployment is voluntary.
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The International Labour Organisation (ILO) measure
The ONS carries out the Labour Force Survey which is a survey involving a range of employers and about 60,000 people are asked about their employment status 4 times a year. This uses the ILO definition of unemployment: all people of working age seeki
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The International Labour Organisation (ILO) measure (DISADVANTAGE)
 60,000 people could be too small a sample size and may not be representative enough.  It is a telephone interview so people may lie.  It is time consuming and expensive.
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The International Labour Organisation (ILO) measure (ADVANTAGE)
 More inclusive than the Claimant Count measure.  It’s an international comparison of employment.
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The Claimant Count measure
The Claimant Count includes all those in receipt of unemployment-relates benefits, principally job-seekers allowance.
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The Claimant Count measure (Disadvantages)
 People may claim benefits even if they are employed.  It cannot be used as an accurate measure of unemployment to compare other countries. This is because not every country’s government gives out unemployment benefits.  Claimant Count is more exc
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Other cards in this set

Card 2

Front

Full time paid employment, on recognizable training scheme and those working a minimum number of hours per week

Back

Employment

Card 3

Front

The number of people who are willing and able to work and actively seeking a work but are unemployed.

Back

Preview of the back of card 3

Card 4

Front

Those people who are in jobs plus those who are unemployed

Back

Preview of the back of card 4

Card 5

Front

Unemployment associated with particular regions of the country; often due to structural unemployment

Back

Preview of the back of card 5
View more cards

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