Correct - but the unemployment rate doesn’t take that into account.
I lie, I gave a few bad examples. Those of working age but not looking (like the SAHP) are out of workforce and not included in unemployment rate. But seasonal, grads looking for the right job and those transferring between jobs are still unemployed and form that 3% i mentioned. The other type (structural unemployment) that relates to not having the skills that employers search for we should have as close to 0% as possible and that part is a concern.
Correct - but the unemployment rate doesn’t take that into account.
I lie, I gave a few bad examples. Those of working age but not looking (like the SAHP) are out of workforce and not included in unemployment rate. But seasonal, grads looking for the right job and those transferring between jobs are still unemployed and form that 3% i mentioned. The other type (structural unemployment) that relates to not having the skills that employers search for we should have as close to 0% as possible and that part is a concern.