ECON 105 Lecture Notes - Real Interest Rate, Real Income, Efficiency Wage

• School: Simon Fraser University
• Department: Economics
• Course: ECON 105
• Professor: Gulriz Barkin

Document Summary

How unemployment is measured and how the unemployment rate is calculated. The significance of the unemployment rate for the economy. The relationship between the unemployment rate and economic growth. The factors that determine the natural rate of unemployment. How inflation and deflation create winners and losers. Why policy makers try to maintain a stable rate of inflation. Every month statistics canada conducts labor force survey (lfs). It uses a rotating sample of around 54,000 households and each household remains in the sample for 6 consecutive months. It uses the survey information to provide estimates of employment and unemployment. Employment denotes the number of adult workers (15 years and over) who have jobs. Unemployment denotes the number of workers who are not employed but are actively looking for a job. Canada; unemployment rate (rate); both sexes; 15 years and over; seasonally adjusted. The unemployment rate is a good indicator of how easy or difficult it is to find a.