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Economic Project

Economic Project. Unemployment. Labour force refers to those:. aged 15 or above. economically active. Labour force= employed population + unemployed population. Question:. Is a housewife in the labour force?. Answer:. No. She is economically inactive. She is not in the labour force.

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Economic Project

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  1. Economic Project Unemployment

  2. Labour force refers to those: aged 15 or above. economically active. Labour force= employed population + unemployed population

  3. Question: Is a housewife in the labour force? Answer: No. She is economically inactive. She is not in the labour force.

  4. Employed population Those who do some work for payment or profit.

  5. ~Employees ~self-employed persons. ~Employers ~Apprentices

  6. Unemployed population Do not have any job for payment or profit during the reference week. Available for work during the reference week. Seeking work during the 30 days before enumeration.

  7. Under-employed population Involuntarily work less than 35 hours during the reference week.

  8. Measurements ~(1). Labour Force Participation Rate = labour force . population aged 15 or above Ｘ 100% ~(2). Unemployment Rate Ｘ 100% = unemployed population . labour force

  9. ~(3). Employment Rate =employed population . labour force Ｘ 100% ~(4). Under-employment Rate =under-employed population . labour force Ｘ 100%

  10. Exercise 1: Population aged 15 or above =100000 Employed population =5205 Under-employed population =1225 Unemployed population =643 ~Labour force = 5848 ~Labour force participation rate = 5.85% ~The unemployment rate = 11% ~Under-employment rate = 20.95%

  11. Exercise 2: Employed population = 2,931,000 Under-employed population = 33,000 Unemployed population = 69,000 ~The unemployment rate = 2.3% 1.1% ~The under-employment =

  12. Cost of Unemployment • Unemployment causes the loss of output • because people who can produce goods and • services have not produced anything. (2) Unemployment causes the loss of workers’ skill because the workers have not worked for long time .So their skills may decline or outdated .

  13. (3) Other cause: Unemployment cerates psychological and social problems .The unemployed will lose self-respect and the crime rate may increase.

  14. Brainstorm

  15. M.C. questions: • Which of the following people would be • classified as ‘unemployment’ in Hong Kong? • Jack, aged 30 ,who has retired after winning the Mark Six. B. Peter, aged 14, who cannot find a job after completing Form three. C. John, who has quit his job and has gone on a trip to Europe. D. Mary, who lost her job five weeks ago and has been looking for a new for one month.

  16. 2. David has quit his job for two months because he has been ill and is resting in bed. According to the Hong Kong government, he is A. unemployed B. under-employed C. employed D. Not in the labour force

  17. 3. Which of the following are included in the calculation of labour force of Hong Kong? (1)An employee with a foreign nationality working in a law firm in Hong Kong. (2) Mr. Chan, who is unemployed and searching for a job. (3) Mr. Wong, who works as a volunteer min a community center after his retirement. C. (2) and (3) only A. (1) and (2) only D. (1), (2)and (3) B. (1) and (3) only

  18. 4. If some Hong Kong residents who emigrated return to Hong Kong to fill up some posts which have been vacant for a long time, then Hong Kong’s labour force would ______and the unemployment rate would _______ A. increase……fall B. Decrease……fall C. increase……rise D. decrease……rise

  19. 5. Which of the following are the possible losses to society caused by unemployment? (1) Loss of output (2) A higher crime rate (3) A greater expenditure in public assistance (4) A reduction in the government’s tax revenue A. (1) and (2) only C. (2) and (4) only D. (3) and (4) only B. (1) and (3) only

  20. The end Yuen Ting Chi 5A(40) Kwok Ching Nga 5B(18)

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