ECON 102 Lecture Notes - Lecture 9: Labour Force Survey, Unemployment Benefits, Root Mean Square

• School: UBC Okanagan, UBC OK
• Department: Economics
• Course: ECON 102
• Professor: Karl Pinno

Document Summary

Lf = no. of employed + no. of unemployed: unemployment rate: the percentage of the labour force that is unemployed. 100: labour force participation rate: the percentage of the adult population that is in the labour force. The labour-market experiences of various demographic groups: does the unemployment rate measure what we want it to, movements into and out of the labour force are common and complicate the measurement of the amount of unemployment. Note: the underlying message here is that most people who become unemployed will soon nd jobs. The average spell of unemployment varies widely across the country: why are there always some people unemployed, there are always workers without jobs, even when the overall economy is doing well. !3: natural unemployment rate: the rate of unemployment to which the economy tends to return in the long run, the natural rate of unemployment in canada is between 6 percent and 8 percent.