8 Flashcards
What is the claimant count
records the number of people claiming unemployment-related benefits
What is the labour force survey
obtain information on the labour market and related issues by means of personal interviews.
What is seasonal unemployment
when people are unemployed at particular times of the year when demand for labour is lower than usual.
What is cyclical unemployment
the number of people out of work as a result of a temporary setback in the economy, such as a recession or change in a business cycle
What is slump unemployment
Long term unemployment
a prolonged period of declining GDP
What are the types of unemployment
Seasoning
Cyclical
Slump
Structural
Voluntary
What is meant by discretionary
Before we make any new policy changes
In a recession, what happens to discretionary benefit expenditure
It rises
In a recession, what happens to discretionary tax revenue
It falls
In a recovery and then a boom, what happens to discretionary tax revenue
It rises
In a recovery and then a boom, what happens to discretionary benefit expenditure
It Falls
What is hysteresis
Long-term unemployment
What is scarring
wages and unemployment rates of this group may not ever recover
What is structural unemployment
long-lasting unemployment that comes about due to shifts in an economy.
Changes
What is voluntary unemployment
the situation where an individual is not working, but is able and willing to work and is actively seeking employment
