Principles of Macroeconomics / Unit 16 MAC 1515 short lesson, about 20 seconds
Outside the Wage Labour Market
Captions available
The idea
In many low- and middle-income economies most people farm, fish, trade and take a succession of day jobs. Unit five's definitions barely apply to them: they are neither employed nor unemployed in the sense the measure means.
In practice
They also cannot specialise, and they fall outside whatever insurance exists.
Where people slip
Connecting such workers to wage-paying work is itself a development goal.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
Builds on
Unlocks
- Nothing yet depends on this.
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