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Unemployment (Types of unemployment (Structural unemployment (Industrial…
Unemployment
Types of unemployment
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Regional, e.g. ship workers in NE England
Voluntary unemployment - a situation when workers choose not to work at the current equilibrium wage rate
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Classical
Classical unemployment is caused when wages are ‘too’ high. This explanation of unemployment dominated economic theory before the 1930s, when workers themselves were blamed for not accepting lower wages, or for asking for too high wages.
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Measured by...
Claimant count
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not all the unemployed will bother to claim, and some are deterred because they cannot prove they are looking for work.
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Labour force survey
All members of the EU must use the ILO standardised measure of unemployment, which is based on a quarterly survey of approximately 40,000 households, and 80,000 individuals
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The unemployed are those individuals of working age who are capable of work, and are actively looking for work, but who are not employed.
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