ECO102H1 Chapter Notes - Chapter 8: Jobless Recovery, Structural Unemployment, Structural Change
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ECO102H1 Full Course Notes
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Employment: total number of people aged 15 and older currently employed, either full time or part time. Unemployment: total number of available people who aged 15 and older are actively looking for work but aren"t currently employed. Labor force: sum of employment and unemployment--people who are currently working and people who are currently looking for work, respectively and older) x 100 older that is in the labor force. Labor force participation rate: percentage of the population aged 15 or. Unemployment rate: percentage of the total number of people in the. Labor force participation rate = (labor force population aged 15. Unemployment rate = (number of unemployed workers labor labor force who are unemployed. The significance of the unemployment rate force) x 100. How the unemployment rate can overstate the true level of. If you"re searching for work, it"s normal to take at least a few weeks to find a suitable job.
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