Macroeconomics - M-Barkin

Chapter 7 - Employment and unemployment

Employment and waiges

There is population

working age people

young and institutionalised

labour force

not in labour force

employed

unemployed

Over the years labour force partisipant rate has grown because feamel also started to work. In the mean while male partisipant force has declined. Overall paritisipant rate is growing.

Agrogate Hours

Total labour hours to produce GDP. 

Unemployment and fullemployment

unemployment reasons

job leavers - constant also in recession

job losers - in its peak in recession

entrance - depends in economyc wellbean, but not as much as job losers

reentrance - depends in economyc wellbean, but not as much as job losers

Unemployment by pouplation

At he business cycle peak in1989 and recession in 1992 unemployment lasted:

lasted; Peak; Recession

x; 1989; 1992

less than 5 weeks; 50%; 34%

5 - 14 weeks; 30%; 29%

15 weeks or more; 20%; 37%

Unemployment by democratic group

Black teenagers experience unemployment rate 3 times bigger than white teenagers

Teenage unemployment rate are much higher than people over the 20.