Unit 3.3(2) Macroeconomic objectives: unemployment
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4 Terms
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Unemployment
count of jobless people in a country who are seeking work but who do not have a job.
→ Unemployed people need to be in the labour market looking for work and not just be people of working age who are not working
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Labour force
made up of people in work and people who are unemployed
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Measuring unemployment
Difficult to measure as labour market is constantly changing
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2 ways to measure the labour market
The claimant count
→ number of people claiming unemployment benefits in a country.
Note 
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