Unemployment Ms Ross  Spring 2009
Labor Force <ul><li>The  labor force  includes all persons over age sixteen who are either working for pay or actively see...
Unemployment <ul><li>To make full use of available production capacity, the labor force must be fully employed. </li></ul>...
Measuring Unemployment <ul><li>U.S. Census Bureau surveys about 60,000 households a month to determine how many people are...
Four Types of Unemployment <ul><li>Seasonal unemployment  is the unemployment due to seasonal changes in employment or lab...
Four Types of Unemployment <ul><li>Frictional unemployment   is the brief periods of unemployment experienced by people mo...
Four Types of Unemployment <ul><li>Structural unemployment  is the unemployment caused by a mismatch between the skills (o...
Four Types of Unemployment <ul><li>Cyclical unemployment  is the unemployment attributable to the lack of job vacancies – ...
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Unemployment

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Unemployment

  1. 1. Unemployment Ms Ross Spring 2009
  2. 2. Labor Force <ul><li>The labor force includes all persons over age sixteen who are either working for pay or actively seeking paid employment. </li></ul><ul><li>People who are not employed or are not actively seeking work are not considered part of the labor force. </li></ul>
  3. 3. Unemployment <ul><li>To make full use of available production capacity, the labor force must be fully employed. </li></ul><ul><li>Unemployment is the inability of labor-force participants to find jobs. </li></ul>
  4. 4. Measuring Unemployment <ul><li>U.S. Census Bureau surveys about 60,000 households a month to determine how many people are actually unemployed. </li></ul><ul><li>A person is considered unemployed if he or she is not employed and is actively seeking a job. </li></ul>
  5. 5. Four Types of Unemployment <ul><li>Seasonal unemployment is the unemployment due to seasonal changes in employment or labor supply. </li></ul><ul><li>At the end of each season, thousands of workers must go searching for new jobs, experiencing seasonal unemployment in the process. </li></ul>
  6. 6. Four Types of Unemployment <ul><li>Frictional unemployment is the brief periods of unemployment experienced by people moving between jobs or into the labor market. </li></ul>
  7. 7. Four Types of Unemployment <ul><li>Structural unemployment is the unemployment caused by a mismatch between the skills (or location) of job seekers and the requirements (or location) of available jobs. </li></ul>
  8. 8. Four Types of Unemployment <ul><li>Cyclical unemployment is the unemployment attributable to the lack of job vacancies – i.e., to an inadequate level of output (Real GDP) </li></ul>

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