ECO 1104 Lecture Notes - Lecture 9: Unemployment Benefits, Frictional Unemployment, Nairu
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ECO 1104 Full Course Notes
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Who"s considered to be oicially unemployed: without work and actively seeking work o o. Hired, but waiing to start work within a month. Several labour market indicators show diferent things o o o o o. Lf = u + e = 1. 4 + 17. 3 = 18. 7 million. Ur = u / lf * 100 = 1. 4 / 18. 7 = 7. 5 % *100 = 18. 7 / 28 = 66. 8 % labour force paricipaion raio. Employment to populaion raio = e / working age pop. Figures for 2011 in these slides characterise a luke-warm labour market. Figures for jan 2015 o o o o o. Lfpr = lf / working age populaion = 19. 2 / 29. 1. * 100 = 65. 7 % deterioraion relaive to 2007 o. Employment to populaion raio = e / working. * 100 = 17. 9 / 29. 1 = 61. 4 % deterioraion relaive to 2007 o. Ontario"s rate is 6. 9 %, above naional average.
