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UNEMPLOYMENT Cheat Sheet (DRAFT) by

measurement, consequences, causes, natural rate

This is a draft cheat sheet. It is a work in progress and is not finished yet.

How to measure unempl­oyment

Claimant Count:
Includes people who are eligible to claim the Job Seeker's Allowance (JSA).
 
The data is seasonally adjusted to take into account predic­table seasonal changes in the demand for labour.
Labour Force Survey:
Includes people who are without any kind of job but who have looked for work in the past month and are able to start work immedi­ately.
 
The Labour Force Survey uses the intern­ati­onally agreed definition of unempl­oyment and therefore allows more accurate cross-­country compar­isons of unempl­oyment levels.
 

Defini­tion:

The unemployed are those people able, available and willing to work at the going wage but cannot find a job despite an active search for work.