Employment and Unemployment. The Labour Force:  The number of people age 16 and over who either have a job (employed) or are actively looking for one.

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Presentation transcript:

Employment and Unemployment

The Labour Force:  The number of people age 16 and over who either have a job (employed) or are actively looking for one (unemployed)  The labour force is directly related to he population (currently 64m in the UK). (What will change the population?)  The percentage of the population who are in The Labour Force is called the ‘participation rate’ (some people don’t want jobs; can’t have jobs)

Employment & Unemployment:  Employment: - the total number of people with a job (includes full-time, part-time, working for a company, self-employed)  Unemployment: - the total number of people able, available and willing to work at the going wage rate but who cannot find work despite an active search - expressed as a percentage of the labour force

Measuring Unemployment: 2 methods  Claimant Count The number of people claiming the Jobseeker’s Allowance (JSA) (Some people are not eligible or don’t claim so this tends to under-estimate)  Labour force survey (ILO measure) A detailed survey of 60,000 UK households’ employment prospects; asks questions on which members of the household are actively seeking work ‘Unemployed’ includes those who have been actively looking for work in the last 4 weeks and are able to start work within the next 2 weeks, or have found a job and are waiting to start it in the next 2 weeks (Since this includes people not claiming JSA, it tends to be a higher number) An internationally recognized measure – so broadly comparable between countries.

Jobseekers Allowance: Use your iPads…  Who qualifies for JSA?  How long do they get JSA?  There are two types… what are they?

Can they claim Jobseeker’s Allowance?  Student in full time education Not entitled

Can they claim Jobseeker’s Allowance?  Recently made redundant 43 year old steel worker

Can they claim Jobseeker’s Allowance?  Person with savings of £12000 Only when you have more than £16,000 – you can’t claim!

Can they claim Jobseeker’s Allowance?  Housewife who does not wish to work

JSA vs ILO measure: Something to consider… ILO measure includes some people who can’t / don’t claim JSA. Think about a booming economy in which jobs are easy to find versus a slow economy where jobs hard to find… How will these two figures move in relation to each other?