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Monitoring employment trends
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Global trends in employment
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Who are the working and dependent
populations?
The labour force participation rate measures the percentage of the population
of working age that is economically active, i.e. either in work or looking for work
and therefore able to produce goods and services
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Labour force participation
Male participation rates have been falling: traditional male-dominated sectors such as mining and manufacturing
industries have been shrinking, particularly in many developed countries
Female participation rates have been rising: the cost of living is rising in many countries; it is now more acceptable for
women to work in many cultures; service industries are growing; there are more part-time jobs
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Causes and types of unemployment
Can cause a
regional
concentration of
unemployment
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Labour market imperfections
Labour market failures and imperfections may restrict employment opportunities:
XPowerful trade unions may restrict the supply of labour to an occupation to boost wages
XThe payment of unemployment benefits may reduce the supply of labour and increase
voluntary unemployment
XHigh non-wage costs, including employers’ contributions to fund publicly provided
unemployment and welfare benefits, may reduce the demand for labour
XMinimum wage laws may reduce the demand for less skilled labour
XLabour immobility can prevent unemployed people from moving to new jobs
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The costs of unemployment
The personal costs include:
•loss of income
•possible loss of self-esteem, leading to depression,
health and marriage problems
© Brian Titley 2012: this may be reproduced for class use solely for the purchaser’s institute