Learning objectives
Define unemployment and calculate the unemployment rate as unemployed ÷ labour force × 100
Compare the claimant count and the labour force survey and explain the difficulties of measuring unemployment
Explain the causes of frictional, structural, cyclical, seasonal and technological unemployment
Analyse the consequences of unemployment for individuals, firms, the government and the economy as a whole
(A Level) Explain the natural rate of unemployment and how long spells of unemployment can raise it (hysteresis)
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