Assignment 1 Labour Economics Essay

1668 WordsMar 26, 20117 Pages
| Assignment One | Labour Economics | | 1) There are nine different measurement rates of unemployment and they are the following, * R1 includes people who are unemployed for 14 weeks and beyond. * R2 includes people who have families with children(s) under the age of 16. * R3 includes people who are unemployed who are not students. * R4 includes people who are unemployed plus full-time members of the Canadian Army. * R5 the official unemployment rate. * R6 includes the full-time labour force. * R7 includes mainly the discouraged worker. * R8 includes people who are underutilized (low hours) either through unemployment and under employment. * R9 includes people who are the part time labour force. Some of the ways that our official (R5) unemployment rate is used is when the official rate tends to rise and fall the other rates tend to mimic the flow. But when there are differences from the R5 it reveals that unemployment can have more of an effect on different categories of unemployment depending on either the quarter of the year and the state of the economy. This can be useful to focus on the groups that suffer more in order to set up assistance programs or to see why they are affected more or less. If Canada was to only have one measurement of unemployment I would choose the official rate. The reason behind this is although R5 does not take in personal situations the fact still remains that they all have one similar trait which is they are unemployed! It is also a simple calculation as well as statistically all of the other rates do closely match the official rate. On the other side since the R5 is inaccurate and we can use the others to find a piece of accurate information it neglects the other categories. 2) A) Unemployment rate: 8.3% Participation rate: 67.3% Employment for the Kawarthas/ Muskoka

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