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I shall identify the costs and benefits of unemployment and then assess the effects and impacts within the economy.
I shall also identify various types of policies used by the UK Labour government to overcome unemployment.
Unemployment
The unemployed are those registered as able, available and willing to work at a going wage rate in any suitable job who cannot find employment.
Unemployment measures the number of people who are out of work at a given period of time. However, each month workers lose their jobs while others find new employment. Unemployment will fall if the flow of workers finding employment is greater than the number of workers losing their jobs...
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