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Unemployment, Factor affecting labour force participation rate,…
Unemployment
condition where some FOPs are not being used in the production of goods and services
Measure of (labour) unemployment
unemployment rate
labour participation rate
Types
Demand-Deficient / Cynical Unemployment
Structural Unemployment
Frictional Unemployment
Factor affecting
labour force participation rate
market wage rate
social attitudes to working women
provision for the care of children and the elderly
social attitudes and provision of work for the disabled
the proportion of school leavers who go for higher education
Consequences of unemployment
consumers
firms
government
Economy
Factors affecting
rate of unemployment
Size and composition of labor force
Labour productivity