TAILIEUCHUNG - Chapter: Unemploment

Unemployment (or joblessness), as defined by the International Labour Organization, occurs when people are without jobs and they have actively sought work within the past four weeks.[1] The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate.[2] In a 2011 news story, BusinessWeek reported, "More than 200 million people globally are out of work, a record high, as almost two-thirds of advanced economies. | Chapter 27 Unemployment David Begg, Stanley Fischer and Rudiger Dornbusch, Economics, 6th Edition, McGraw-Hill, 2000 Power Point presentation by Peter Smith Some key terms Unemployment rate: the percentage of the labour force without a job but registered as being willing and available for work Labour force those people holding a job or registered as being willing and available for work Participation rate the percentage of the population of working age declaring themselves to be in the labour force 27. Unemployment in the UK, 1950-99 Source: Economic Trends Annual Supplement, Labour Market Trends 27. Data relate to the claimant count. This SLIDE also appeared in Chapter 20. Unemployment (%) in selected countries 27. Data are from Table 27-1 in the main text. Labour market flows It is tempting to see the labour market in static terms Working Unemployed Out of the labour force but. 27. See Section 27-1 in the main text and Figure 27-2. This basic version of the Figure .

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