Statistics Canada Counts as Employed People Who Work Part-Time, but Would

question 83

Essay

Statistics Canada counts as employed people who work part-time, but would prefer to work full-time.Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed.Explain how the unemployment rate and the labour force participation rate would change.

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Definitions:

Joint Tenants

Joint Tenants is a term used in real estate to describe a form of co-ownership where all owners hold an equal share of the property, and have a right of survivorship, meaning upon the death of one tenant, the property's ownership transfers to the surviving tenant(s).

Sever the Joint Tenancy

The legal process of converting a joint tenancy into a tenancy in common, thus allowing the owners to own a property in equal or unequal shares.

Option Agreement

A subsidiary contract creating an obligation to hold an offer open for acceptance until the expiration of a specified time.

Lease

A secured arrangement whereby possession of the goods goes to the lessee, while the title to the goods remains with the lessor.