MGEA06H3 Lecture Notes - Lecture 4: Fisher Equation, Unemployment Benefits, Frictional Unemployment

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27 Feb 2018
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MGEA06H3 Full Course Notes
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Statistics canada carries out a monthly survey called the labour force. Survey by interviewing a random sample of 56,000 households across. Once we classify our adult population in these 3 groups, we can calculate the followings: Labour force (lf) = # of employed + # of unemployed. The labour-force participation rate (lfpr) = the percentage of adult. Unemployment rate (ur) = the percentage of the labour force that is population that is in the labour force: Employment rate = # of employed unemployed: employed: Employment rate (er) = the percentage of adult population that is. *** note: employment rate is not equal to 1 the unemployment rate. Example: according to the labour force survey, the labour market in 2017: Find the labour force participation rate (lfpr), the unemployment rate (ur), and the employment rate (er) in 2017. Labour force = 18416. 4 thousand + 1246. 6 thousand = 19663 thousand. Adult population (cid:883)(cid:882)(cid:882)% er = # of employed.

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