The labour force consists of those who are at the age of sixteen or older that are currently employed or are looking for work. Even those who are not working but are seeking for work are included in the labour force, which I personally believe to be odd and misleading. If the labour force consisted of those who legally work at a business, paper route or mow lawns. The rates and different types of unemployments could be displayed more accurately. In my opinion those included in the labour force should only be those that are working at the time. Those who are considered out of the labour force are those who do not want a job and those who are discouraged. How can unemployment rates be shown accurately if those who are looking for work are considered in the labour force? it can't , I believe if we knew the real number of people that are not working and are abusing the system. We would not so easily hand over our hard earned cash to the government in taxes.
A Person is considered employed if they are working part or full time hours. A person who is underemployed works part time hours but could or wants to work full time hours. There are many businesses that under employ many of their workers due to no shows, labour costs and also because business owners do not want to have their hands tied behind their backs just incase an employee with many shifts decides he or she does not want to work that week. Underemployment is a very smart business tactic for the owners, but for the workers it is not so enjoyable receiving barely any hours on the schedule.
Canada has an unemployment rate of 7.2% which is not bad, but unemployment among youth has become bigger then it has ever been. This generation is much more educated then the last one, but are struggling to find jobs now more then ever. I personally believe that is due to inexperience in the workplace, high student loan debt and also the amount of people that are seeking to certain professions as a career is becoming crowded.
The labour force survey excludes too many people in my opinion to be accurately showing the general population who is working and who is not, again I believe it is so that the general public keeps quiet and keeps paying their hard earned dollars in taxes to a corrupt government.
The labour force survey excludes residents of the three territories (which are filled with tax payed reserves)
Persons living on indian reserves, inmates and full time members of the armed forces. With the armed forces it is understandable that they could be excluded from the labour force, inmates aswell, but for any other exclusions I believe it is inexcusable and it does not accurately show who is and who is not part of the labour force.
There are a few types of unemployment, which show different reasons as to why people don't have jobs.
There is frictional unemployment which includes those who are searching for jobs or are waiting for a call back from a job. You could say that these types of people are between jobs but are still making an effort to find employment.
There is structural unemployment and this is caused by change in demand for consumer goods in technology. Which could be workers who are no longer needed or are necessary in a procedure to either advancements or demands within a product.
There is Cyclical/demand-deficient which is caused by recession. Which include markets that really go downhill during recession such as the housing market.
Seasonal unemployment is due to changes in the seasons. Nobody needs a landscaping company or a lawn company during the winter months and if you do you probably don't live in Winnipeg.. Natural rate is when the economy is working at its full rate and there is just no room for you, sorry. Please enjoy this video.
https://www.youtube.com/watch?v=If-3zgM3kXc
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