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Labour Markets - Coggle Diagram
Labour Markets
Indicators
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Unemployment Rate\=UnemployedLabour Force×100\text{Unemployment Rate}= \frac{\text{Unemployed}}{\text{Labour Force}} \times100Unemployment Rate\=Labour ForceUnemployed×100
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Participation Rate\=Labour ForceWorking Age Population×100\text{Participation Rate}= \frac{\text{Labour Force}}{\text{Working Age Population}} \times100Participation Rate\=Working Age PopulationLabour Force×100
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Nature
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Definition: The number of workers businesses are willing and able to employ at different wage rates.
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