ECO100Y5 Chapter 8: ECO100 - Microeconomics Chapter 8 Textbook Notes
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The percentage of population aged 15 and older that is in the labour force. The percentage of the total number of people in the labour force who are unemployed. Employment - the number of people currently employed in the economy, either full tie or part time. Unemployment - the number of people who are actively looking for work but aren"t currently employed. Labour force - equal to the sum of employment and unemployment. Discouraged workers - nonworking people who are capable of working but have given up looking for a job because of the state of the job market. Marginally attacked workers - would like to be employed and have looked for a job in the recent past but are not currently looking for work. Underemployment - the number of people who work part time because they cannot. Job search - workers who spend time looking for employment.
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