Employment & Unemployment - How they are measured content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Employment & Unemployment
Measures of Unemployment – The Claimant Count
Measures of Unemployment – The ILO LFS
Quirks of Employment and Unemployment Rates & Immigration
Causes and Impacts of Unemployment content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Causes of Unemployment
Costs of Unemployment
Economic Growth - How it's measured content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Output, GDP & Economic Growth
Limitations of GDP
Alternate Measures of National Income: GNI & GNP
Purchasing Power Parity (PPP)
Happiness Economics
Impacts of Economic Growth content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Positive Impacts
Negative Impacts
The Circular Flow of Income content slideshow. Designed for the Economics A level qualification. Can be used in revision and in class.
Subtopics:
Intro to The Circular Flow of Income
Injections & Withdrawals
Causes of Economic Growth content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Actual & Potential Economic Growth
Demand side Causes of Economic Growth
Supply side Causes of Economic Growth
Constraints on Economic Growth
Export-led Growth
Inflation - How it's measured content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Inflation
Index Figures, Measuring Inflation
The CPI
RPI: An Alternative Measure of Inflation
Causes and Impacts of Inflation content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Causes of Inflation
Costs of Inflation
Why do we not want Zero Inflation?
Deflation
Causes and Impacts of Unemployment content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Causes of Unemployment
Costs of Unemployment
Economic Growth - How it's measured content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Output, GDP & Economic Growth
Limitations of GDP
Alternate Measures of National Income: GNI & GNP
Purchasing Power Parity (PPP)
Happiness Economics
Impacts of Economic Growth content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Positive Impacts
Negative Impacts
The Circular Flow of Income content slideshow. Designed for the Economics A level qualification. Can be used in revision and in class.
Subtopics:
Intro to The Circular Flow of Income
Injections & Withdrawals
Causes of Economic Growth content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Actual & Potential Economic Growth
Demand side Causes of Economic Growth
Supply side Causes of Economic Growth
Constraints on Economic Growth
Export-led Growth
Inflation - How it's measured content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Inflation
Index Figures, Measuring Inflation
The CPI
RPI: An Alternative Measure of Inflation
Causes and Impacts of Inflation content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Causes of Inflation
Costs of Inflation
Why do we not want Zero Inflation?
Deflation
Consumption content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Consumption
Determinants of Consumption
The Relationship between Savings and Consumption
Government Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Government Failure
Causes of Government Failure
AS Macro - Unemployment and the Labour Markettutor2u
Unemployment is one of the major macro-economic
performance indicators. The more unemployed people
in our economy the more we are producing below our
potential, less income is earned (reducing saving,
consumption and tax revenue) and there is a negative
impact on the welfare of society.
Policies to Correct Current Account ImbalancesHugo OGrady
Policies to Improve Current Account Imbalance content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Expenditure Reducing Policies
Expenditure Switching Policies
Supply Side Policies
Basic ideas to explain unemployment, types of inflation, the CPI and the GDP. Some slides were borrowed from others off of the web because frankly, they were too good NOT to use.
Consumption content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics:
Intro to Consumption
Determinants of Consumption
The Relationship between Savings and Consumption
Government Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Government Failure
Causes of Government Failure
AS Macro - Unemployment and the Labour Markettutor2u
Unemployment is one of the major macro-economic
performance indicators. The more unemployed people
in our economy the more we are producing below our
potential, less income is earned (reducing saving,
consumption and tax revenue) and there is a negative
impact on the welfare of society.
Policies to Correct Current Account ImbalancesHugo OGrady
Policies to Improve Current Account Imbalance content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Expenditure Reducing Policies
Expenditure Switching Policies
Supply Side Policies
Basic ideas to explain unemployment, types of inflation, the CPI and the GDP. Some slides were borrowed from others off of the web because frankly, they were too good NOT to use.
This presentation includes the ILC-UK's Ben Franklin and Cesira Urzì Brancati presenting a summary of the Moved to Care report; a response from Dr Shereen Hussein, Senior Research Fellow at King's College London; and a response from Madeleine Sumption, Director of the Migration Observatory.
This presentation includes the ILC-UK's Ben Franklin and Cesira Urzì Brancati presenting a summary of the Moved to Care report; a response from Dr Shereen Hussein, Senior Research Fellow at King's College London; and a response from Madeleine Sumption, Director of the Migration Observatory.
Older workers bring a lot of skills and experience and can be great mentors or collaborators. Older people already contribute a lot to economy, society and family so why not employ them and have a mutually rewarding workplace relationship. Employers just need to think outside the box and be a bit flexible.
Maximising the economic opportunity of ageing - Future of Ageing 2019ILC- UK
In this introductory session at the ILC's fifth Future of Ageing Conference, ILC Director, David Sinclair, set the scene for the conference.
Delegates heard about the new ILC research on the longevity dividend, which sets out the huge economic contribution of older people today and projects potential future economic growth as a result of ageing.
David talked about ILC’s views on how we might realise an even greater longevity dividend for the UK economy, by unlocking the full potential of older adults as consumers and employees.
Download 'Maximising the longevity dividend' from the ILC website - https://ilcuk.org.uk/maximising-the-longevity-dividend/
Find our more about Future of Ageing 2019 - https://ilcuk.org.uk/event-the-future-of-ageing/
This case study aims to understand the activity patterns of international migrants in income and benefit data. The slides summarise what research is already published on these activity patterns and illustrate what exploratory research, using linked administrative data sources, can further tell us. The findings from this case study provide important insights which are key to the successful development of a population and migration statistics system based on administrative data sources.
Current Account Influences and Impacts content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Factors Influencing the Current Account
Impacts of Current Account Deficits
Deregulation content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Deregulation
Pros & Cons of Deregulation
Regulation content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Regulation
Price Capping: RPI-X & RPI+K
Profit Capping: Rate-of-Return
Performance Targets
Self-Regulation
Nationalisation content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Nationalisation
Limitations of Nationalisation
Privatisation content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Privatisation
Limitations of Privatisation
Competition Policy content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Competition Policy
The Competition and Markets Authority (CMA)
Evaluation of Competition Policy
Buffer Stock Schemes content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Buffer Stock Schemes
Limitations of Buffer Stock Schemes
Maximum & Minimum prices content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Maximum Prices
Minimum Prices
Pros & Cons of Maximum & Minimum Prices
Limitations of Maximum & Minimum Prices
Alternatives to Maximum & Minimum Prices
Volatile Commodity Markets content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Volatile Commodity Markets
Impacts of Market Volatility
Information Provision content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Information Provision
Pros and Cons of Information Provision
State Provision content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro and Analysis of State Provision
Pros and Cons of State Provision
Information Gaps content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Information Gaps
Information Gaps & Merit goods
Information Gaps & Demerit goods
Adverse Selection: Akerlof's Market for Lemons
Moral Hazard & the Principal-Agent Problem
Public Goods content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Public Goods
Under-Provision of Public Goods (Marginal Analysis)
Under-Provision of Public Goods (No Marginal Analysis)
Regulation to Correct Market Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro and Analysis of Regulation
Pros and Cons of Regulation
Tradable Pollution Permits content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro and Analysis of Tradable Pollution Permits
Pros and Cons of Tradable Pollution Permits
Subsidies to Correct Market Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Recap and Analysis of Subsidies
Pros and Cons of Subsidies
Externalities content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Externalities
Marginal Analysis
Consumption Externalities
Production Externalities
Types of Market Failure content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to Market Failure
Different Types of Market Failure
Trade (Business) Cycle content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Intro to the Trade Cycle
Phases of the Trade Cycle (Booms, Recessions, Slumps, Recoveries)
Output Gaps content slideshow. Designed for the Economic A level qualification. Can be used in revision and in class.
Subtopics
Short Run Output Gaps
Long Run Output Gaps
Introduction to AI for Nonprofits with Tapp NetworkTechSoup
Dive into the world of AI! Experts Jon Hill and Tareq Monaur will guide you through AI's role in enhancing nonprofit websites and basic marketing strategies, making it easy to understand and apply.
Synthetic Fiber Construction in lab .pptxPavel ( NSTU)
Synthetic fiber production is a fascinating and complex field that blends chemistry, engineering, and environmental science. By understanding these aspects, students can gain a comprehensive view of synthetic fiber production, its impact on society and the environment, and the potential for future innovations. Synthetic fibers play a crucial role in modern society, impacting various aspects of daily life, industry, and the environment. ynthetic fibers are integral to modern life, offering a range of benefits from cost-effectiveness and versatility to innovative applications and performance characteristics. While they pose environmental challenges, ongoing research and development aim to create more sustainable and eco-friendly alternatives. Understanding the importance of synthetic fibers helps in appreciating their role in the economy, industry, and daily life, while also emphasizing the need for sustainable practices and innovation.
Read| The latest issue of The Challenger is here! We are thrilled to announce that our school paper has qualified for the NATIONAL SCHOOLS PRESS CONFERENCE (NSPC) 2024. Thank you for your unwavering support and trust. Dive into the stories that made us stand out!
Embracing GenAI - A Strategic ImperativePeter Windle
Artificial Intelligence (AI) technologies such as Generative AI, Image Generators and Large Language Models have had a dramatic impact on teaching, learning and assessment over the past 18 months. The most immediate threat AI posed was to Academic Integrity with Higher Education Institutes (HEIs) focusing their efforts on combating the use of GenAI in assessment. Guidelines were developed for staff and students, policies put in place too. Innovative educators have forged paths in the use of Generative AI for teaching, learning and assessments leading to pockets of transformation springing up across HEIs, often with little or no top-down guidance, support or direction.
This Gasta posits a strategic approach to integrating AI into HEIs to prepare staff, students and the curriculum for an evolving world and workplace. We will highlight the advantages of working with these technologies beyond the realm of teaching, learning and assessment by considering prompt engineering skills, industry impact, curriculum changes, and the need for staff upskilling. In contrast, not engaging strategically with Generative AI poses risks, including falling behind peers, missed opportunities and failing to ensure our graduates remain employable. The rapid evolution of AI technologies necessitates a proactive and strategic approach if we are to remain relevant.
Biological screening of herbal drugs: Introduction and Need for
Phyto-Pharmacological Screening, New Strategies for evaluating
Natural Products, In vitro evaluation techniques for Antioxidants, Antimicrobial and Anticancer drugs. In vivo evaluation techniques
for Anti-inflammatory, Antiulcer, Anticancer, Wound healing, Antidiabetic, Hepatoprotective, Cardio protective, Diuretics and
Antifertility, Toxicity studies as per OECD guidelines
Model Attribute Check Company Auto PropertyCeline George
In Odoo, the multi-company feature allows you to manage multiple companies within a single Odoo database instance. Each company can have its own configurations while still sharing common resources such as products, customers, and suppliers.
3. Introduction to Employment and Unemployment
Employment (E): the part of the labour force that are engaged with a job
Stat: 33.07 million people were in employment in the UK in February 2020 – a record!
Unemployment (U/E): the part of the labour force that are out of work and
actively seeking employment at the current wage rate
Stat: An estimated 1.36 million people were unemployed in the UK in February 2020
The Labour Force (LF): the people who are working or are willing and able to work
in a country. It is everyone who would work if there were limitless jobs. They are
Economically Active
LF = E + U/E
The Population of Working age (PWA): the number of people in the UK aged
between 16 to 64
Economically inactive: those members of the PWA that are not either employed or actively
seeking employment at the current wage rate
Economically inactive = PWA - LF
E.g. students, stay at home parents, people enrolled on training schemes, early retirement,
etc.
4. 2020: 33.07 m
2020: 8.5 m
Total UK pop:
66.65m
Population of
working age
Pop of working
age: 42.93m
Aged
16-64
Labour Force
(Economically active)
UNEMPLOYED
ECONOMICALLY INACTIVE
2020: 1.36 m
EMPLOYED 34.43 m
Labour force breakdown
5. Why do we measure unemployment?
Unemployment represents a waste of scarce resources i.e. labour that is not being used to
produce G&S
So measuring unemployment with care is vital as it informs about spare capacity and helps us
determine whether an economy can cope with excess demand
Under-employment: those workers who are highly skilled but working in low
paying jobs and part-time workers who would prefer to be full time.
They are not as productive as they could potentially be.
Employment and Unemployment rates
Employment rate: the proportion of the Population of working age that is
currently employed ( E ÷ PWA )
Stat: UK employment rate = 77%
Unemployment rate: the proportion of the labour force that is not currently
employed ( U/E ÷ LF )
Stat: UK unemployment rate = 4.0%
Participation rate: the proportion of a Population of working age that is in the
labour force i.e. economically active ( LF ÷ PWA )
Stat: UK participation rate = 80%
7. The Claimant Count
Definition: simply records the number of people receiving Jobseeker’s Allowance
(i.e. unemployment benefits)
Workings:
Those claiming JSA must declare that they are out of work, but capable of, available for and
actively seeking work
Only available to those aged between 16 and state pension age
By counting the people on JSA, the government know how many people are unemployed
Stat: 1.20 million people claimed JSA in the UK in Feb 2020
Advantages of the Claimant Count
Includes everyone claiming JSA
Not a survey hence avoids sampling errors
Gives detailed local breakdowns highlighting differences in regional unemployment
Compiled every month
Figures are always up to date
Cheap to produce
All data comes from existing records held by job centres and The Department of Work and Pensions
8. Disadvantages of the Claimant Count
Benefits cheats might still claim JSA
They might claim to be unemployed even if they are employed already in the ‘informal economy’ or if they
are not genuinely seeking work
Some unemployed may be unable to claim
Individuals may be seeking work but unable to claim JSA if their spouse has a high income
Some people might not want to claim JSA
Those with great wealth or very high income may not bother to claim
Social stigma in claiming benefits
Changes to conditions of claiming JSA and definition of CC unemployment have tended to
push the figures downward. 40+ changes since 1979 e.g.
Change from those registered at job centres to those actually claiming JSA
16-18 year olds register for a government training scheme instead of claiming benefits
Those seeking part-time employment can no longer claim JSA
Those seeking full-time employment but who have a part-time job can’t claim JSA, they are classified as
underemployed now
Those in their 50s and 60s who are claiming a pension from previous work are excluded, even if they are
still seeking employment.
10. The Labour Force Survey
Definition: The labour force survey (LFS) is undertaken by the International Labour
Organisation (ILO) and is a more direct assessment of unemployment, rather than
those who claim benefit.
Workings: The measure is based on an extrapolation of a quarterly survey of
85,000 individuals. They state whether they are unemployed based on meeting the
following criteria:
Have been out of work for 4 weeks.
Be able to start work in the next 2 weeks, (i.e. readily available for work).
Be able and willing to take on work for at least one hour per week.
So part-time unemployment is included in the measure - though these workers are unlikely to claim
unemployment benefit. This tends to make ILO unemployment higher than the Claimant Count.
Stat: LFS estimated 1.34 million people were unemployed in the UK in Feb 2020
11. Advantages of the ILO LFS
Uses an independently set definition
Prevents government from interfering and artificially manipulating decreases in unemployment figures
Uses the ILO definition
Adopted by many countries
Allows easy comparison between countries and aids clear policy making/comparative analysis
More inclusive measure as no requirement to be claiming benefits
Includes unemployed who may not receive JSA
This could be as they may not want to claim due to social stigma, their household income may be too high,
they may already have a private pension preventing a claim, they might not have made sufficient NI
contributions historically to be eligible.
Disadvantages of the ILO LFS
Additional cost to the ONS
They need to run a survey of 85,000 individuals
Only a sample
There may be sampling errors
It may not be representative
12. Quirks of Employment
and Unemployment
Rates & Immigration
Employment and Unemployment
Mr O’Grady
13. Quirks of Employment and Unemployment
Key Question: Can there be a Simultaneous Increase in both the Employment and
the Unemployment Rate?
Yes! As the unemployment rate is U/E ÷ LF and the employment rate is E ÷ PWA then it is
possible for both rates to rise
This can occur if there is immigration and both the unemployment rate and employment rate
amongst the new members of the population is higher than in the existing population.
Analysis: Consider the following economy:
Population of working age = 100 people
No. of employed = 40, no. of unemployed = 10, no. of economically inactive = 50
U/E rate = 20% (10 ÷ 50), E rate = 40% (40 ÷ 100)
Immigration/Other population changes: Present an exogenous shock to the LF
40 people of working age immigrate into the economy
23 immigrants become employed, whilst 17 become unemployed. None are economically
inactive
New no. of employed = 63, new no. of unemployed = 27, new no. of economically inactive =
50
New U/E rate = 30% (27 ÷ 90), new E rate = 45% (63 ÷ 140)
Economically Inactive (50
people)
Employed (40 people)
Unemployed (10 people)
Economically Inactive (50
people)
Employed (60 people)
Unemployed (30 people)
14. The Significance of Immigration
Net migration: the difference between the number of people immigrating (coming in) to and
emigrating (going out) from of a country.
Stat: Net migration to the UK was estimated to be 258,000 in 2018. This is down from a peak of
336,000 in the year ending June 2016, just before the EU referendum
There is significant debate as to whether these migrant workers add more to our employment rate or to our
unemployment rate (although hypothetically it could be both), as well as the more general economic impact.
Advantages of immigration to the Labour force often missed:
Migrant workers tend to be more flexible than British citizens (e.g. Polish doctor accepting a job
in a pharmacy).
They find jobs quickly and are unlikely to add to unemployment figures themselves.
They often take jobs which other British citizens didn’t want anyway – so migrants are not really forcing UK
workers into unemployment.
Migrant workers themselves are consumers who demand G&S which, in turn, increases the
derived demand for labour in other industries.
Consequently, migrant workers tend to increase the employment figures more than they increase the
unemployment figures.
15. Where next?
Visit our website: www.smootheconomics.co.uk
Find more resources, enrichment materials,
details of courses, competitions, and more!
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