The main UK measures of unemployment, ie the claimant count and the Labour Force Survey measure
The UK measures unemployment in two main ways. The Claimant Count records people claiming unemployment-related benefits, while the Labour Force Survey asks a large sample of households whether they are out of work and actively seeking a job.
Real World
During the 2020 pandemic, the Claimant Count surged as millions claimed Universal Credit, but the LFS measure rose more slowly because furloughed workers still counted as employed under ILO criteria.
Exam Focus
When comparing measures, state a specific limitation of each — e.g. the Claimant Count excludes those who don't claim benefits.
Price Elasticity of Demand
PED = % change in quantity demanded ÷ % change in price
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