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2281 · 4.7

Employment and unemployment

**Unemployment** (4.7) connects to the **macroeconomic aims** (4.2) and to fiscal, monetary and supply-side policy (4.3–4.5). Cambridge questions ask you to **identify the type**, **calculate the rate** and **evaluate** the policy response.

Need to know

What you need to know

  • The Labour Force Survey (LFS) is a survey-based measure using the ILO definition of unemployment.
  • The Claimant Count is an administrative measure of those claiming unemployment benefits.
  • The LFS is generally considered more accurate and allows for international comparisons.
  • The Claimant Count is cheaper to collect but can be affected by changes in government policy on benefits.

Explanation

Employment and unemployment

  1. The Labour Force Survey (LFS) is a survey-based measure using the ILO definition of unemployment.
  2. The Claimant Count is an administrative measure of those claiming unemployment benefits.
  3. The LFS is generally considered more accurate and allows for international comparisons.
  4. The Claimant Count is cheaper to collect but can be affected by changes in government policy on benefits.
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