who employee

wage and remuneration

(primal factor)

of
supply labour working conditions
(e.g., safe vs dangerous)

Human capital, skills,

experience and
e.g., you and me
education and training
determinants levels

Occupational and
e.g., the Hukou system
geographical mobility
in Mainland China
of labour

The participation rate

school leaving age

labour demand
who employer

a derived demand why? (to be elaborated)

wage and remuneration

(primal factor)

labor productivity

changes in technology

determinants
changes in the number
of firms

change in demand of
firms' G&s

firm profitability

equilibrium wage

equilibrium quantity

Unemployment refers Fundamental where the supply and

definition of labour
to working age (15-64) knowledge demand of labour come
market
people actively seeking Definition together
(prerequisites)
employment but are S & D meet at
简单说，你是房地产中介， unable to find it.
万一有一天，全世界都通过
网络去寻找房屋买卖信息
比如有可能人的工作会被机
了，全部都是C2C的，那整 skills in one industry
器AI等取缔 - tech
个世界都不需要房地产中介 doesn't meet the
advances replace Structural
了，那就只能失业了。而你 vacancies in the
human jobs, making
的失业不是因为你的个人业 economy
jobs obselete
务能力个人素养导致的，是
行业性的，所以那就是结构
draw the D&S curve to
性失业。（举例2） could be ambiguous
see why
minimum wage impacts

因为经济大萧条导致的失业 因为疫情导致的失业
cyclical Lorenz curve
caused by downturn of
cylical
economic activities
GFC, Global pandemic,
cause needs to be
boom gender female ＜ male
elaborated

caused by people is in-

Frictional young ＜ old why? encourages labours to
between jobs Type (Causes)
increase education and
age skill levels
lower certificate ＜
farmer why?
higher certificate
seasonal encourages labours to
work longer and higher
Christmas tree seller harder
occupation why?

makes the labour force

don't look for job
people who don't have hidden cultural background why? more mobile
benefits
work but are not hideen
counted in govt reports
work less than want to
encourages
entrepreneurs to take
people who have been more risks
unemployed for 12 long term
months or more
creates potential for
higher savings and
(un+em)/working age higher capital
Economic
pop formation

participation rate

could be affected by may decrease economic

school leaving age growth
Calculation

un/(un+em) unemployment rate may cause conspicuous

consumption

pros & cons of income costs

Underemployment
Labour market inequality poverty and social
represents people who e.g., crimes
are working but are not Unemployment related problems
working in a job that
knowledge wage outcomes
matches their skills or
increase costs of
abilities, often leading
welfare
to earning less than
what he or she should definition
earn.
social class divisions

social costs
举个例子 一个写代码的程
poverty (absolute/
序员👨 01F
3FB 💻目前没找到跟自
relative)
己专业技能匹配的工作 于
是去了餐厅端盘洗碗掌勺 1 means 1 person owns
用了没完全用 in short
由于做的工作跟自身的专业 underemployment related concept value range 0~1 all the income in the
技能不匹配 所以没办法收 year and the rest of
到这么多本应该是程序员可 Gini Coefficient population gain nothing
以挣到的工资 the larger the number, at all, vice versa.
indication explanation
how to depict income the greater inequality
inequality
可以同时存在(2018, 21b) includes data for a
more inside y=x, more particular year ONLY
Lorenz Curve y=x - absolute equality
和unemployment的联系 equal distribution limitation but not reflect the
它不算在unemployment里 aggregate wealth
因为毕竟也是找到了工作 gained already
Unemployment benefits EAs (also known as
(Transfer payment as collective agreements)
automatic stabliisers) set a rate of pay and
“多（个employees）对一
EAs (Enterprise conditions for a group
（个employer）” （感觉
Agreements) of employees through a
Minimum wage 像是）
negotiation process and
has a set time period of
operation
Labour market related
policies
Effects
Australia has a system
of honours and awards
Labour mobility
so its citizens can be
Fair Work Commission = “一（个employee）对多
recognised for
Changes Awards/ （个审查机构来判定这个
Awards excellence,
training and education wage setting methods Agreements, Conciliates employee够不够资格拿到
achievement or
& Concludes Conflict award）”
meritorious service and
Decentralised and contributions to our
centralised labour society.
market division

Individual
Notice: even there's a arrangements set the
thing called full wages and conditions
employment, there's for individual
still unemployment. Individual employees, sometimes
”一对一“
There are other types of arrangements referred to as common
unemployment except law agreements. Timing
is the unemployment of the review of these
cyclical unemployment.
definition level where there's no sounds familiar? arrangements vary on a
(See NAIRU)
Non-accelerating cyclical unemployment case by case basis.
extended knowledge
NAIRU inflation rate of
branch
unemployment
enhance skills' training
implications how to reduce NAIRU?
can help reduce NAIRU