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Labour

TermDefinition
Wages the return to labour.
Labour Force all people who are working and all those who are available for work at the present wage rate.
The participation rate the percentage of the population in the labour force.
geographical mobility of labour the willingness of labour to move from one region to another to take up employment
occupational mobility of labour the ability of labour to change from one form of employment to another form of employment.
Frictional unemployment people unemployed between jobs when one industry is declining while another is starting up.
Seasonal unemployment lack of demand at particular times of the year leads to short-term lay offs.
Structural unemployment industries that were major employers have gone into decline –> no demand for the skills of the old employees.
Institutional unemployment arises when there are obstacles to the mobility of labour, or when the incentives to work are decreased.
Disguised unemployment people who do not register on the live register but who are available for work.
Underemployment this is where someone is employed just to give that person an income, but he or she does not add to the total output of the firm (for example, a son employed in the family firm).
Cyclical unemployment associated with a general fall in the level of demand during a decline a recession (decline in trade cycle).
Quarterly National Household Survey a survey which sets out to establish the number of people who are not working but actively seeking employment.
Live Register a list of all those people under 65 who sign a register to collect Jobseeker’s benefit or Jobseeker’s allowance.
Created by: Ms D'Rosario
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