Answer to Question #127584 in Macroeconomics for oduwole

Question

How do we measure unemployment

Answer 1

The unemployed are those individuals of working age who are capable of work, and are actively looking for work, but who are not employed.

Therefore, the number of people who are willing and capable to work at the current wage rates but are unable to get employment measures unemployed.

Unemployment is also measured through claimant count, which records those claiming Unemployment benefit and can prove they are actively looking for work.

The other measure is International labour Organization where survey is undertaken by the international labour organization and is more direct assessment of unemployment, rather than those who claim benefit.