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unemployment
(those of working age who are willing and able to work,…
unemployment
(those of working age who are willing and able to work, actively seeking work but do not have a job)
Measures
Labour Force Survey: surveys 40,000 households
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full employment
where the numbers of worker willing to work at the ruling wage rate are equal to the number of workers firms are willing to hire
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Structural
is unemployment that arises due to a mismatch between the labour force (its skills, quantiitty/location) and current demand for labour
it is a more long term ohenomenon than frictional unemplyment and is associated with the changing face of industries
in the uk some industries have declined (steel, coal) which are located in the north usually
regional unemployment is connected to this. in a national context this means failing to encourage workers to move in pursuit of jobs, and or failing to attract workers to regions where unemployment is high
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Cyclical
demand deficient unemplyment, is unemplyment caused by the lakc of aggregate demand i an economy when it is in the recession/depressions ohase of the economic cycle
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Frictional
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recognises that if i leave my current job today i may not immediately be able to start a new job even though jobs exist
could be caused by geographical immobility of labours - workers are unwilling or unable to move from one area to another to fill a vacancy
occupational immobility of labour - workers are unwilling or unable to take a different job where different skills are required