ECON102 Study Guide - Final Guide: Male Unemployment, Unemployment Benefits, Root Mean Square

• School: University of Alberta
• Department: Economics
• Course: ECON102
• Professor: Andrew Wong

Document Summary

Chapter 9: unemployment and its natural rate job search ! problem of unemployment divided into two categories:! Natural" does not imply desired level or that it is constant ! four explanations for economy"s natural rate of unemployment:! 1: minimum wage laws , unions , ef ciency wages! How is unemployment measured? measuring is the job of stats canada - every month produces data on unemployment and other aspects of the labour force like:! Unemployment rate in atlantic canada consistently higher than in the rest of the country, and the difference has grown since 1970s ! 1/3rd of those suffering through an unemployment spell are unemployed for a month or less, 1. frictional unemployment - unemployment that results because it takes time for workers to search for the jobs that best suit their tastes and skills. Ghting policies towards those areas of the country that need it most ! Firm 2 workers need to nd new jobs and firm.