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10 cards from this deck
Everyone who is either employed or unemployed
Full employment doesn't mean zero unemployment
UK Labour Force Survey (~60,000 households)
UnemployedTotal workforce×100\frac{\text{Unemployed}}{\text{Total workforce}} \times 100Total workforceUnemployed×100
Unemployment while workers transfer between jobs
Skills mismatch between declining & growing sectors
Unemployment during recession/business cycle downturn
Employed in 2nd-choice job or part-time when prefer full-time
Want to work at going wage but can't find employment
Lower tax revenues & higher benefit spending
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