ECON 102 Lecture Notes - Lecture 7: Labour Force Survey, Rieti, Human Capital
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ECON 102 Full Course Notes
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Why unemployment is a problem: unemployment results in. Lost human capital: the loss of income is devastating for those who bear it. Employment benefits (cid:272)reate a safety (cid:374)et (cid:271)ut do(cid:374)"t fully repla(cid:272)e lost (cid:449)ages, a(cid:374)d (cid:374)ot e(cid:448)eryo(cid:374)e re(cid:272)ei(cid:448)es benefits: prolo(cid:374)ged u(cid:374)e(cid:373)ploy(cid:373)e(cid:374)t per(cid:373)a(cid:374)e(cid:374)tly da(cid:373)ages a perso(cid:374)"s jo(cid:271) prospe(cid:272)ts by destroying human capital. Labour force survey: statistics canada conducts a monthly population survey to determine the status of the canadian labour force, the population is divided into two groups: 1. the working-age population the number of people aged 15 years and older. People too young to work (under 15 years of age: the working-age population is divided into two groups: People not in the labour force: the labour force is the sum of employed and unemployed workers, to be counted as unemployed, a person must be in one of the following three categories: Without work but has made specific efforts to find a job within the previous four weeks.
