unemployment Flashcards
(8 cards)
1
Q
what is the labour market
A
people in the labour force and people not in the labour force
2
Q
reasons people may not be in the labour force
A
- not looking
- retired
- permanently unable to
work
3
Q
what is the labour force comprised of
A
- unemployed
- employed part time
- employed full time
4
Q
what is the unemployment rate
A
the percentage of people who are not in a job but are looking for some work
5
Q
calculating the unemployment rate
A
employed + unemployed = labour force
unemployed/labour force x 100 = employment rate
6
Q
what is the participation rate
A
labour force/working age population x 100
7
Q
how to calculate the participation rate
A
labour force/working age population x 100
8
Q
A
