RevisedCh17Notes

RevisedCh17Notes - Chapter17:Unemployment:

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Chapter 17: Unemployment: Meaning and Measurement Measuring Unemployment the unemployed are generally defined as those who are not currently employed and who indicate  by their behaviour that they want to work at prevailing wages and working conditions  the primary source of unemployment data is the Labour Force Survey, carried out monthly by  Statistics Canada  o for the most recent release of the Labour Force Survey, click on: http://www.statcan.ca/english/Subjects/Labour/LFS/lfs-en.htm the labour force consists of the employed plus the unemployed, and the unemployment rate is  defined as the number of unemployed divided by the labour force  according to the Labour Force Survey, persons are classified as:  o employed  if they did any work, including unpaid work on a family farm or business, or if  they normally had a job but were not at work because of such factors as bad weather,  illness, industrial dispute, or vacation  o unemployed  if they did not have work in the reference week but were available for and  searching for work  two exceptions to this principle are those on temporary layoff from a job to which  they expect to be recalled and those with a job to start within the next four weeks o out of the labour force  if they are not employed and are not searching for work (examples  include full-time students and retirees) the number of Unemployment Insurance (UI) claimants, an alternative unemployment data source,  differs from the number of unemployed in the Labour Force Survey for a variety of reasons  o the number of UI claimants may exceed the number of unemployed in the Labour Force  Survey because some people collecting UI may not search for work (for example, persons  on maternity or sick leave and seasonal workers who collect UI for part of the year)  o the number of UI claimants may be less than the number of unemployed in the Labour  Force Survey because not all unemployed persons are eligible for UI (for example, new  job seekers, the self-employed, and long-term unemployed who have exhausted their UI  benefits) The Canadian Experience as illustrated in Figure 17.1, Canada's unemployment experience has varied widely 
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o the onset of the Great Depression in the 1930s saw the unemployment rate soar from  about 3% to almost 20%  o during World War II unemployment fell to very low levels  o the post-World War II period has been characterized by cyclical variations around a  general upward trend; during the severe recession of 1981–82 the unemployment rate  reached 11.8% (the highest since the Great Depression), fell back to 7.5% during the 
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RevisedCh17Notes - Chapter17:Unemployment:

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