Measuring Unemployment and Vacancies

Abstract

Peston points out that the conventional measure of unemployment (the number of persons unemployed) is inadequate as a measure of the social and economic costs of unemployment. He outlines a new approach which consists of weighting the number of unemployed in, say, each occupation, by a relative wage rate. This paper takes up Peston's suggestion and extends it to other measures of the labour market. Attempts are then made to obtain numerical estimates of these measures and compare them with the more conventional measures.

Citation

Holden, K. and Peel, D.A. (1975), "Measuring Unemployment and Vacancies", International Journal of Social Economics, Vol. 2 No. 3, pp. 206-214. https://doi.org/10.1108/eb013786