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Canada (161,962)
Economics (708)
Chapter 21

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Department
Economics
Course
Economics 1022A/B
Professor
Jeannie A Gillmore
Semester
Winter

Description
Labour Force • Those who are employed • Those who are unemployed Unemployed • Without work • Made specific effort to find a job within the last 4 weeks • Without work but waiting to be called back from layoff • Waiting to start a new job within 4 weeks Employed • Split into part time and full time  • Voluntary part time o Work part time because they want to  • Involuntary part time o Wants a full time job but can’t find one Unemployment rate • Percentage of people in labour force who are unemployed = # Unemployed/# in the labour force * 100 Labour force participation rate • Percentage of people in the working age population who are members of the  labour force  = # Labour force/ # working age population * 100 Employment to population ratio • Percentage of people in the working ag
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