revision-05-unemployment

revision-05-unemployment - Unit 6 revision unemployment...

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Unit 6 revision – unemployment Need to know knowledge before analysis and evaluation!
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What is unemployment? ‘Voluntarily unemployed’ are those not prepared to take a job. Involuntarily unemployed’ are those who are willing to work for the going wage rate. Claimant count – includes anyone who receives job seekers allowance. However, this misses some involuntary unemployed – anyone over the age of 55 receive income support instead and anyone on a job training scheme. Labour Force Survey (LFS) which is a household survey which collects a range of information on the labour force. From this the govt decides whi us unemployed by using the International Labour Office (ILO) measure which defines anyone who is unemployed as…
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The causes of unemployment are? High Wage or Classical Unemployment Cyclical or Keynesian Unemployment Frictional Unemployment Structural Unemployment Voluntary and Involuntary Unemployment
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What are the costs of unemployment? Costs of unemployment to the individual Lack of income Loss of status Social stigma More likely to experience divorce, nervous breakdowns, bad health, suicide Long periods of unemployment = reduces the value of human capital – skills HYSTERISIS – the longer out of
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revision-05-unemployment - Unit 6 revision unemployment...

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