Involuntary part time workers people who say they

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Unformatted text preview: -time workers — people who say they would like full time work but are working part time. Unemployment has three types of costs: (1) economic; (2) psychological; (3) social. A significant concern is that the e↵ects of unemployment can persist for a very long time. 0 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 percent Unemployment in Canada Both Sexes; 15+ 14 12 10 8 6 4 2 Official Rate +Discouraged Workers +Waiting Group +Involuntary Part-time +All Unemployment in BC 16 Official Unemployment Rate + Involuntary Part-time Workers 14 12 8 Official Unemployment Rate 6 4 2 Year 12 20 10 20 08 20 06 20 04 20 02 20 00 20 98 19 96 19 94 19 92 19 90 19 88 19 86 19 84 19 82 19 80 19 78 19 76 0 19 Percent 10 Economics 104 Other labour market measures The Participation Rate : percentage of working age population that is in the labour force. Participation Rate = 100 ⇥ Employed + Unemployed Population (15yrs+) The Employment Rate : percentage of working age population that is employed. Employment Rate = 100 ⇥ Employed Population (15yrs+) 13 Labour force characteristics by province Oct-13 Nov-13 thousands thousands British Columbia Population Labour force Employment Unemployment Participation rate Unemployment rate Employment rate 3,868.4 2,465.9 2,304.5 161.4 63.7 6.5 59.6 CANSIM table 282-0087. Participation Rate LF/POP Unemployment Rate U/LF Employment Rate E/POP Participation Rate LF/POP Unemployment Rate (LF-E)/LF 3,871.2 2,460.0 2,296.3 163.7 63.5 6.7 59.3 October to November 2013 November 2012 to November 2013 change in '000s change in '000s 2.8 -5.9 -8.2 2.3 -0.2 0.2 -0.3 43.4 -16.9 -15.5 -1.4 -1.2 0.0 -1.1 October to November 2013 % change November 2012 to November 2013 % change 0.1 -0.2 -0.4 1.4 From October 2013 to Nov 2013: * Unemployment Rate in BC rose by 0.2% [not good] * Employment fell by 8200 [not good] * Participation fell by 0.2% [not good] From Nov 2012 to Nov 2013: * Employment fell by 15,500 [not good] * Unemployment rate unchanged due to a fall in the participation rate Source: Labour Force Survey Statistics Canada 1.1 -0.7 -0.7 -0.8 Employment in Canada 860,000 840,000 persons 820,000 800,000 780,000 760,000 740,000 720,000 Canada; Employment (Persons); Males; 20 to 24 years; Seasonally adjusted Canada; Employment (Persons); Females; 20 to 24 years; Seasonally adjusted Employment in Canada 6,400,000 6,200,000 persons 6,000,000 5,800,000 5,600,000 5,400,000 5,200,000 Canada; Employment (Persons); Males; 25 to 54 years; Seasonally adjusted Canada; Employment (Persons); Females; 25 to 54 years; Seasonally adjusted Employment in Canada 1,900,000 1,700,000 persons 1,500,000 1,300,000 1,100,000 900,000 700,000 Canada; Employment (Persons); Males; 55 years and over; Seasonally adjusted Canada; Employment (Persons); Females; 55 years and over; Seasonally adjusted...
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This homework help was uploaded on 03/03/2014 for the course ECON 104 taught by Professor Voss during the Spring '10 term at University of Victoria.

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