ECON 1BB3 Lecture Notes - Lecture 6: Employment-To-Population Ratio, Underemployment, Starbucks
75 views6 pages
21 Oct 2015
School
Department
Course
Professor
adrianagreen0110 and 39672 others unlocked
11
ECON 1BB3 Full Course Notes
Verified Note
11 documents
Document Summary
Econ 1bb3: introductory macroeconomics lecture 6 chapter 9: An adult is any person greater than or equal to 15 years of age. People in long-term care (such as nursing homes), in prison or regular, full-time military are not available to work and cannot take up a job are classified as being in an institution. The employed and unemployed population comprise of the labour force. The unemployment rate is the percentage of the labour force that is unemployed. Unemployment rate = number of unemployed x 100 labour force. Labour force participation rate (lfpr) = labour force x 100 adult population. Employment rate = number of employed x 100 adult population. Employment rate is not one hundred minus the unemployment rate because our denominators in the two fractions are different. In some ways, the employment rate is the percentage of how much of the total potential labour force is employed and utilized.
Get access
Grade+
$40 USD/m
Billed monthly
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
10 Verified Answers
Class+
$30 USD/m
Billed monthly
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
7 Verified Answers