ECO 1102 Lecture Notes - Lecture 9: Labour Force Survey, Unemployment, Frictional Unemployment

• School: University of Ottawa
• Department: Economics
• Course: ECO 1102
• Professor: Octavian Strimbu

Document Summary

Eco(cid:374)o(cid:373)y"s natural rate of u(cid:374)e(cid:373)ploy(cid:373)e(cid:374)t: amount of unemployment economy normally experiences. Cyclical unemployment: year-to-year fluctuations in unemployment around natural rate. Every month, statistics canada (sc) conducts labour force survey (lfs) Data are collected on: unemployment, employment, length of workweek, duration of unemployment. Labour force (lf): total # of workers, including both employed & unemployed. Unemployment rate (u): % of labour force that is unemployed. Labour force participation rate (lfpr): % of adult population that is in labour force = Compute labour force, u-rate, adult population, & labour force participation rate using this data. There is an exception b/c in 2011 unemployment rate of young males was higher than young females. This is a residual effect of last recession. This phenomenon has been tagged a man cession b/c it affected unemployment rates of males more so than the unemployment rates of females. Figure 9. 2: canadian & regional unemployment rates 1966-2011)