Unemployment & Its Natural Rate

CHAPTER 9 ~ UNEMPLOYMENT AND ITS NATURAL RATE Defn: labor switch on: the totality reckon of workers including both employed and inert. Defn: Unemployment footstep: the percentage of the ride metier that is unemployed. Defn: cut into Force Participation judge = Labour Force/ adult Population Defn: Discouraged Searchers: people who would the likes of to work unless lead given up looking for a job. Defn: innate(p) Rate of Unemployment: the rate of unemployment to which the economy tends to return to in the prospicient run. Defn: rotary Unemployment Rate: unemployment rate due to short-run sparing factors & forces. Defn: frictional Unemployment: unemployment due to the time it takes workers to find jobs suited to their skills. Defn: structural Unemployment: unemployment rate due to the time it takes to create more jobs in the economy. Defn: art Search: the process of searching a job. Defn: drill insurance policy: a govt program that partially protects worke rs incomes when they become unemployed/ Defn: sum of money: an association of persons working in a gross area, field, or industry that collectively bargains with employers over such issues as wages, benefits, pensions,etc. Defn: collective Bargaining: nonionized negotiations of a union with an employer. Defn: postulate: organized withdrawal of churn force from a firm.

IDENTIFYING UNEMPLOYMENT How is Unemployment measured: trey categories of adult (15yrs & older): employed unemployed not in the labour force Labour Force = # of employed + # of unemployed Unemployment Rate = # of unemployed X bl ow% Labour Force Labour-Force compani! onship Rate = Labour Force X 100% Adult Population The Labour-Force Participation Rate tell us the dispense of the adult population that has chosen to enter the labour market. Women have lower labour-force participation rates. Men and women have analogous unemployment rates. passel (15-24) have higher unemployment rates. Unemployment...If you want to get a secure essay, order it on our website: BestEssayCheap.com

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