LABOR MARKET AND INFLATION

Answer each of the following questions.
1. How do we classify data to ensure everyone is uniquely categorized in the labour market statistics?
2. Collect some basic labour market statistics from the most recent Labour Force Survey at
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701. Create a table and evaluate
the recent labour market performance. Below is a suggested structure….

Title

April 2019 March 2019 Change

Population
Labour Force
Employment
Full-time
Part-time
Unemployment
Unemployment Rate
Participation rate
Source:
3. Explain the difference between “Demand Pull” and “Cost Push” inflation. Be sure to use graphs in
your explanation.

Answer Preview……………..

The labor market majorly incorporates human power. In the current global market there is the specialization factor. Due to specialization the labor force is divided into various groups depending on the skills and talents of individual. When analyzing labor market it is important to classify various individuals into their respective groups. This classification is better done in the following criteria. First determining the total population, then determine the percentage that have acquired a working age. This is followed by finding those in the labor force and those not. The group is categorized into the employed and unemployed. From the employed there may be full……………

APA 600 words