PPT-Equilibrium Unemployment as a Worker Discipline Device

Carl Shapiro and Joseph Stiglitz Conventional paradigm All workers receive the market wage and there is no unemployment Existence of involuntary unemployment Wages fall to clear market Workers have an incentive to shirk. GDP has collapsed together with employment levels in the construction and retail sector Ireland has one of the highest levels of unemployment in the EU and one of the worst ratios of jobseekers to vacanc ies It is all reminiscent of the crisis of What are the . 4 types . of unemployment?. How are unemployment rates determined?. What is full . employment a. . underemployment?. . What. is a . discouraged worker?. "It's a recession when . your neighbor . under-employment . from becoming structural. . G20 Task Force on Employment. Paris, 10-11 April 2014. Stefano Scarpetta,. Director. of . Employment, Labour and Social Affairs. OECD. Key challenges. Unemployment. occurs when a person is available to work and currently seeking work, but the person is without work.. How. to . define. u. nemployment. In USA . unemployment . is measured by the Bureau of Labor Statistics (BLS. You May Be Eligible . and Don’t Know It. Overview. Most temporary and probationary 10-month and Academic Year employees are eligible for unemployment benefits during the summer.. You may also be eligible if your time base is reduced but you are still working.. Outline. The labor force. The labor force participation rate. The unemployment rate. Sources of unemployment. The 16 and older non-institutionalized population that holds a paying job or is . actively seeking wo. By: Ben . Quick. SSEMA1a,b. The unemployment rate shows the percentage of unemployed people divided by the total number of people in the civilian labor force . The unemployment rate understates the unemployment rate because it does not include “discouraged” workers or people who are working part time because they cannot find full-time work. Swings in the. Economic Pendulum . Instability in the . Growth . of Real . GDP: 1960-2015. Although real GDP in the . United States has . grown at an average rate of approximately 3%, the growth has been characterized by economic ups-and-downs. Okun’s. Law. AP Macro. Economics 2301. © Robin Foster. Jobs and Unemployment. Total population of the USA.. Working Age population . is the total number of people aged 16 and older who are not in jail, hospital, institutionalized or in the military.. 2. IS-MP. Y. Potential output = AF(K,L). Y. pot. u. Three key macro laws for the labor market. Okun’s Law: . unemployment moves inversely with Y (earlier in course). Beveridge Curve: . Unemployment moves inversely with vacancy rate (today). 20. Previously. Gross Domestic Product (GDP). The market value of all final goods and services produced in a specific period of time. . To find real GDP, we must adjust nominal GDP for inflation. Business cycle. The Haber process proceeds as follows:. . 2NH. 3 (g). + 92KJ ↔ N. 2 (g). + 3H. 2 (g) . . If the equilibrium concentrations are:. [NH. 3. ] = 3.1x10. -2. M. [N. 2. ] = 8.5x10. -1. M. [H. 2. . When the rates of the forward and reverse reactions become equal, the concentrations of the reactants and the products remain constant. This is the stage of chemical equilibrium. This equilibrium is . The Meaning of K. . K > 1 . . the equilibrium position is far to the right . K < 1 . . the equilibrium position is far to the left . The value of . K. for a system can be calculated from a known set of equilibrium concentrations. .