BSB113 Lecture Notes - Lecture 9: Aggregate Demand, Shortage, Labour Force Survey
Document Summary
Measuring the unemployment rate and the labour force participation rate: Calculating the missing values in the table of data collected in the labour force survey. Labour force participation rate 62: the costs of unemployment: question 2. 4. Social problems -> being looked down on. During the 2007-2008 global financial crisis unemployment rates in many countries were at very high levels. By 2010 a number of countries were showing signs of economic recovery. However, their rates of unemployment were remaining high, and in some countries the rates of unemployment were continuing to rise further. Firms hired fewer people to reduce wage costs. People were not ready to go back to work for fear of being fired again: explaining frictional and structural unemployment: question 4. 11. Discuss the likely impact of each of the following on the unemployment rate: A the length of time workers are eligible to receive unemployment benefit payment doubles.
