External environment - Economic indicators
Worksheet 2 - Unemployment
1. Go to the data section and find the figures for unemployment for the last 15 years. You will need to look at the following variable:
- BCJD Claimant count unemployment
Fill in the figures in the table below (or download them into a spreadsheet program).
| Year | Unemployment |
|---|---|
| 1988 | |
| 1989 | |
| 1990 | |
| 1991 | |
| 1992 | |
| 1993 | |
| 1994 | |
| 1995 | |
| 1996 | |
| 1997 | |
| 1998 | |
| 1999 | |
| 2000 | |
| 2001 | |
| 2002 | |
| 2003 |
(2 Marks)
2. Outline the effect that high unemployment is likely to have on the following areas of business activity (explain your answer fully):
Costs
Demand
(6 Marks)
3. Assess the effects of a falling unemployment rate on the following types of business:
a) A company specialising in ICT network solutions to large business organisations
b) A building company specialising in the construction of brick built retirement apartments for the elderly
c) A chain of fast food restaurants paying only the minimum wage to workers in a high labour turnover industry
(12 Marks)
Total Marks = 20
