ECON 201 Lecture Notes - Lecture 8: Frictional Unemployment, Efficiency Wage, Structural Unemployment
11 Apr 2018
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Discouraged workers (people willing to work but have given up looking for a job) Happens in recessions and it is socially costly bc people lost valuable skills and aren"t. Female labor force is higher in scandinavian countries and middle in us, uk, germany and. France and lower in turkey italy and greece. Flexibility- women tend to want more flexibility but the jobs that pay the most are when ayou work long hours. Pregnancy- jobs pay more when you can delay this bc employers pay young unmarried women less. Economy could be shedding jobs but employment rate decreases- happens because people leave the labor force, which is why it"s important to look at more than just unemployment rate. Countries with more unions have higher unemployment rate) Changes in labor force characteristics (older, more experiences, sex) Changes in labor market institutions (declining union, temp workers) Job search (why unemployment rate is never 0)
