CHAPTER 3

EMPLOYMENT

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  • How the labour market works and the measurement of jobs/unemployment
  • How employment and wages are determined
  • Different types of unemployment and why they exist
  • How unemployment moves with economic activity
  • The link between unemployment and inflation
  • Recent changes to the structure of the labour market

INTRODUCTION

Along with economic growth and inflation, the number of people employed or unemployed in the economy are among the most important of economic indicators. In the UK you'll often hear political parties point-scoring, arguing over how joblessness changed under current or previous governments. How the number of people ...

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