The Nature of Unemployment (Grade 10 NSC Matric Economics): Flashcards
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No. of unemployed in SA
No. of unemployed in SA
More than 8 million people
Two ways SA defines unemployment
Two ways SA defines unemployment
Official and expanded definitions
Main difference: official vs expanded definition
Main difference: official vs expanded definition
Official requires active job search, expanded doesn't
Unemployment rate formula
Unemployment rate formula
(No. unemployed / Total EAP) × 100
Four main types of unemployment
Four main types of unemployment
Frictional, cyclical, structural, seasonal
Frictional unemployment
Frictional unemployment
Temporarily between jobs (short-term)
Cyclical unemployment
Cyclical unemployment
Linked to economic ups and downs (recessions)
Structural unemployment
Structural unemployment
Mismatch between workers' skills & job needs
Cause: mechanisation effect on jobs
Cause: mechanisation effect on jobs
Machines replace workers, leading to job losses
Main effect of unemployment in SA
Main effect of unemployment in SA
Main reason for high poverty levels