Unemployment Rate

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4 Terms

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Define Unemployment Rate

the percentage of people in the labour force that are able and looking for work

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Describe Unemployment Rate

the % of the labour force that are:

  • age 15 years and over

  • not employed

  • available to start work

  • taking active steps to find work

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Explain Unemployment Rates

  • high unemployment during economic contraction

  • low unemployment during economic expansion

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