| A | B |
|---|
| age greater than 15 and working one hour or more | two characteristics of term employed |
| age greater than 15 and not working one hour or more per week | two characteristics of term unemployed |
| actively | to be classed unemployed you must be ? looking for work |
| employed and unemployed figures | you need these figures to calculate the labour force |
| unemployment rate | unemployed number divided by labour force number provides this figure |
| participation rate | this rate uses calculation - labour force divided by population > 15 |
| labour force | to calculate participation rate we divide this figure by working age population >15 |
| capacity | the labour force shows a countries productive ? |
| productive capacity | this term describes - a countries maximum potential to produce goods and services. |
| working age population >15 | this group of individuals represents Australias potential labour force |
| homemakers, retirees, students, discouraged workers | list of people who are not included in working age population |
| labour supply | number of people available and willing to work |
| demand for labour | number of jobs available in the economy |
| decrease | when there is a surplus of labour supply wages ? |
| immigration or increase in population | factors that could increase the supply of labour |
| increase | low unemployment has this impact on level of taxes collected by government |
