SummaryCh17 - S u m m ar y The unemployed are generally...

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Summary • The unemployed are generally defined as those who are not currently employed and who indicate by their behaviour that they want to work at pre- vailing wages and working conditions.The primary source of data on unemployment in Canada is the Labour Force Survey, carried out monthly by Statistics Canada. • According to the Labour Force Survey, individuals are categorized as unemployed if they did not have work in the reference period 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. • Canada’s unemployment experience has varied widely.The onset of the Great Depression saw the unemployment rate soar from about 3 percent to almost 20 percent. During World War II unemploy- ment fell to very low levels.The post–World War II period has been characterized by cyclical varia- tions around a general upward trend. The behav- iour of unemployment since the late 1990s sug- gests that the upward trend may have ended. • The unemployment rate is the most commonly used measure of labour market activity.Two addi- tional measures are the employment rate and the labour force participation rate, defined respective- ly as the fractions of the adult population employed and in the labour force. Because they focus on somewhat different aspects of labour mar- ket activity these three measures need not always move together. For example, since the mid-1960s the unemployment rate has risen substantially but
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This note was uploaded on 02/05/2011 for the course ECON 3240 taught by Professor Noordeh during the Winter '11 term at York University.

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SummaryCh17 - S u m m ar y The unemployed are generally...

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