How many more will lose their jobs in this recession? Retiring Monetary Policy Committee member David Blanchflower predicts at least one million more people will lose their jobs before unemployment peaks.
Click here to see 2 video-clips and a news article relating to this prediction.
The following questions might help you in your revision for the up coming exams.
Questions on unemployment:
1. How is unemployment measured in the UK? (2 marks)
2. How many people are currently unemployed in the UK? (2 marks)
3. Explain what is meant by cyclical unemployment. (2 marks)
4. Using an example, explain what is meant by the phrase “the demand for labour is a derived demand?” (4 marks)
5. Explain 2 consequences of rising unemployment (6 marks)
6. How can the UK government help to reduce the current level of unemployment? (8 marks)
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