CECN640-Unemployment

CECN640-Unemployment - UNEMPLOYMENT (Chapter 17 and part of...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
UNEMPLOYMENT (Chapter 17 and part of Chapter 18) Highlights 1. The basic theme of chapter 17 is that while the aggregate level of unemployment is one of the most important economic variables (especially for Canadian immigrants), as far as society’s well being is concerned, there are many complexities involved in measuring it and in analyzing its anatomy. 2. The focus of the relevant part of chapter 18 is the types of unemployment, including (a) Frictional unemployment, (b) Structural unemployment, (c) Demand-deficient or Cyclical unemployment, and (d) Seasonal unemployment. (1) Measuring Unemployment 1. There are three primary data sources that are used to measure the unemployment rate: 1) The labour force survey (LFS). This is the most commonly reported source. 2) The census. 3) Administrative data for the employment insurance program. 2. A crucial point is that there are at least three major indicators of the performance of the labour market: (a) The unemployment rate, (b) The labour force participation rate, and (c) The employment rate. A thorough analysis of labour market trends should mention all three, as they do not always move together. 3. Perhaps the toughest issue in measuring the unemployment rate is the treatment of the
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Page1 / 2

CECN640-Unemployment - UNEMPLOYMENT (Chapter 17 and part of...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online