03.01.labourforce

03.01.labourforce - BUEC280Lecture5 TheCanadianLabourForce

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  Prof. Simon D. Woodcock BUEC 280 Lecture 5 The Canadian Labour Force
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  Prof. Simon D. Woodcock What is the Labour Force? We distinguish between the  quantity  of labout available to the  economy, and the  quality  of labour The total supply of labour in the economy (quantity) is called  the  Labour Force  (LF) Quality depends on education, skills, health, etc. LF = Number of Employed + Number of Unemployed Isn’t this everyone? No: it excludes: Retirees, fulltime students, homemakers Anyone who’s not employed and not actively looking for work
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  Prof. Simon D. Woodcock How do we measure it? Every month, Statistics Canada conducts a survey of households called  the Labour Force Survey (LFS) LFS measures things in a reference week (the week before the survey) LFS definitions: Employed:  worked for pay or profit at least one hour in the  reference week includes those who are “normally” working, but didn’t work in reference  week due to illness, holidays, strike, etc. Unemployed:   didn’t work in the reference week  and   available to work  and   searched for  work in the 4 previous weeks or  didn’t work in the reference week  and  will start work in next 4 weeks  (e.g., temporary layoff, about to start new job) Not in the LF:  everyone else
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  Prof. Simon D. Woodcock Growth of the Labour Force 1947: 4.9 million 1998: 15.6 million 2003: 17 million Grew fastest in the 1960’s and 1970’s (over 3%  per year) Much slower in recent years (about 1% per year 
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03.01.labourforce - BUEC280Lecture5 TheCanadianLabourForce

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