ECO 1102 Chapter Notes - Chapter 9: List Of Suits Characters, Market Power, Labour Force Survey

• School: University of Ottawa
• Department: Economics
• Course: ECO 1102
• Professor: David Gray

Document Summary

4 explanations: job search, minimum wage laws, unions, and efficiency wages unemployment not rate of is constant. Data provided by statistics canada every month from a survey of 54 000 households. Labour force survey (adults 15 or older) Adults are either employed, unemployed, or not in the labour force. Employed: if a person spent some the previous week working at a paid job. Unemployed: if a person is on a temporary layoff or looking for a job. Labour force data can determine a lot of facts and allows economists to monitor the economy. Comparing international unemployment rates can be misleading. It"s hard to distinguish between a person who is unemployed and a person who is not in the labour force compared to employed full-time vs not working at all. Very common to have movements in and out of the labour force, makes it hard to measure.