EC250 Chapter Notes - Chapter 8: Living Wage, Labour Economics, Excess Supply
Document Summary
Idea that people who want to work should work doesn"t always work that way (get me a. Lack of job economic hardships without a job its hard to survive welfare cheques but they only help so much. Job searching rejection bad on self esteem and family relations. Employment skills deteriorate in fast changing jobs fast changing jobs need to update skills constantly. People learn on job unemployed are behind since don"t got job experience. Unemployment affect inflation and slow economic growth: high interest rates more debt. People who do not like there job less likely to quit during high unemployment. During great recession us labour market was already had an increasing unemployment rate. Canada less affected only increased 40% (6%- 8. 4%) Increased later than us but fell earlier: us fell faster though. Unemployment always higher in europe than us. Youth unemployment higher in eu than us.
