Unemployment Macro Flashcards
(56 cards)
How would you define unemployment?
To be counted as unemployed, someone must be of working age, willing and able to work, and actively seeking work but cannot find a job.
What is the Labour Force Survey?
This survey asks 60-70,000 UK households to self-classify as being employed, unemployed or economically inactive.
What does the Claimant Count measure?
This counts the total number of recipients of Job Seeker’s Allowance (JSA) added to those looking for work to claim Universal Credit (UC).
What can the national rate of unemployment hide?
- Regional variations
- Local variations
- Variations by age, gender, ethnicity, and other social backgrounds
- Duration of joblessness
What is long-term unemployment?
Long-term unemployment refers to people who have been unemployed for 12 months or more.
What is a structural supply-side problem in the UK labour market?
Long-term unemployment, where the longer someone is without a job, the harder it is for them to find their way back into paid employment.
What is mass unemployment?
Mass unemployment exists when officially one person in ten in the labour force is out of work.
What is youth unemployment?
The measured unemployment rate for all 16–24-year-olds.
What are some reasons for relatively high youth unemployment?
- Lack of experience
- Lack of education or training
- Age discrimination
- Economic downturns
- Automation and technological advancements
Who are discouraged workers?
Discouraged workers are inactive work-seekers who have ceased to seek work because they believe there are no suitable available jobs.
What is hidden unemployment?
Hidden unemployment, also known as disguised unemployment, refers to people who do not have work but who are not counted in government reports.
What is the gig economy?
A work arrangement where people perform short-term, flexible, and often freelance work, typically through online platforms or apps.
What percentage of workers in the UK were on a zero-hours contract in 2023?
3.6 percent.
What is seasonal unemployment?
Seasonal unemployment occurs when workers might be without paid jobs due to seasonal changes in demand, production, and employment.
What is frictional unemployment?
Frictional unemployment is caused by workers seeking a better job or who are between jobs, affecting new entrants to the labour market.
What are two reasons for the high level of job vacancies in the UK economy?
- Brexit has made it harder to recruit workers from the EU.
- Skills gaps and low pay in some industries.
What is the labour force participation rate?
The number of workers in the labour force compared to the number of people in the working population.
Fill in the blank: Long-term unemployment accounts for people who have been out of work for at least _______.
one year
True or False: The longer someone is unemployed, the easier it is for them to find another job.
False
What is the definition of the labour force?
The number of people of working age who are able, available, and willing to work.
What is meant by underemployment?
A situation where a person is working part-time but would like to be full-time.
What is the definition of economically inactive?
Those who are of working age but are neither in work nor actively seeking paid work.
What has Brexit caused in terms of the UK labor market?
Brexit has made it harder to recruit workers from the European Union, causing shortages in sectors such as hospitality, social care, and construction.
