2.3.2– Employment & Unemployment

A* AQA A/AS Level Economics notes on employment and unemployment, with explanations, analysis, and evaluation to achieve top marks. Macroeconomic notes with an explanation of varying economic schools of thought.

Includes:

• The main UK measures of unemployment, ie the claimant count and the Labour Force Survey measure.
• The concepts of voluntary and involuntary unemployment.
• The terms seasonal, frictional, structural and cyclical unemployment.
• How employment and unemployment may be determined by both demand-side and supply-side factors.
• The concept of, and the factors which determine, real wage unemployment.
• The concept of, and the factors which determine, the natural rate of unemployment.
• The consequences of unemployment for individuals and for the performance of the economy.