Unemployment

Complete the following equation: Unemployment Rate = (Unemployed/ ______________)*100

Since 1950, in which year was the unemployment rate 0% in the UK?

• 1991

• 2002

• 1951

• It's never been at 0%.

• 1991 and 1951

Calculate the unemployment rate with the following data: Unemployed: 5 million, UK Population: 60 million, Employed: 45 million

• 10%

• 8.33%

• 11.11%

• None of the above

True or False. A person who is out of work and who is not actively looking for work is unemployed.

• True

• False

The number of people in the economy who are claiming unemployment benefits is the

• Claimant Count

• Labour Force Survey

• Jobseeker Centre

• None of the above

LFS stands for

• Labour Force Survey

• Labour Fiscal Survey

• Low Fiscal Supply

• Low Financial Supply

Select ALL the criteria that the Labour Force Survey uses to classify an individual as unemployed:

• of working age (e.g. 16–64)

• who is without a job

• who is available to start work within 2 weeks

• has been looking for work for the last 4 weeks

• completed an application for unemployment benefits

Select ALL the characteristics of the Labour Force Survey

• Sample survey based

• Based on third party data

• Sample size of 40,000

• Monthly

• Quarterly

Select ALL the characteristics of the Claimant Count

• Monthly

• Quarterly

• Can include non-claimants

• Based on third party data

• Burden of proof is high

What are ALL the reasons that the Claimant Count can be less than the Labour Force Survey

• LFS can include non-claimants

• Burden of proof is high for CC

• CC is based on third party data

• LFS is based on sample survey