Underemployment When individuals are employed but are working less hours than they would like or in positions below their skill level.

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Presentation transcript:

Underemployment When individuals are employed but are working less hours than they would like or in positions below their skill level

Frictional Unemployment Short term unemployment that occurs when people are between jobs, or they have left education are are awaiting their first job.

Structural Unemployment Occurs when there is a permanent fall in the demand for a particular type of labour.

Seasonal Unemployment When the demand for labour in certain industries falls at certain times of the year.

Cyclical Unemployment

Involuntary Unemployment People who are prepared to work at the going wage rate but who cannot find a job.

Voluntary Unemployment People who have no job because the wage rate is not sufficiently high, but will look for work once wage rates increase.

Total Labour Force Potential amount of people who would work within the working ages of 18 and the national age of retirement, usually 65.