EconomicsComicPt2

EconomicsComicPt2

Storyboard Text

  • Wow, I guess you learn something new everyday. Thanks.
  • Anyways, I’m about to single handedly increase the unemployment rate–I persuaded seven of my buddies to join me in an eight-month trip around the world.
  • Okay–you don’t believe me? I’ll show you the texts.
  • Ok, that’s false.
  • Huh…explain.
  • No…that’s not what I meant. What I mean is that you didn’t increase the unemployment rate; you’re just leaving the labour force.
  • The unemployment rate is the percentage of the labour force not working during a certain time period. It’s found by conducting a nation-wide survey of 59,000 people, and they’re categorized into three groups: those legally not allowed to work, those eligible to work but choose not to, and those a part of the labour force–people working and/or are willing to work. The unemployment rate is the number of unemployed people divided by the labour force multiplied by 100. So, if you choose not to work, you’re no longer a part of the labour force, and hence, not a part of the unemployment rate.
  • Okay, interesting. But also how can the stat be accurate if only about 60,000 Canadians are surveyed?
  • That’s a great question. Unfortunately, the statistic isn’t perfect. Statistics Canada can’t get this info for literally every Canadian, so the results are quite accurate but not entirely spot-on. And that’s actually not the only flaw though. This is because the stat doesn’t properly account for part-time workers, underemployed workers, and those who gave up looking for work.
  • Damn. You're smart.
  • Very smart.
  • What's your name?
  • You should be a teacher.
  • Arshilah. Arshilah Bandeali.
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