Current daily status(cds), Microeconomics

Current Daily Status(CDS):

The reference periods (i.e. a year, a week and a day) are basically used to describe the period for which the workers are employed in the economy. These periods also help in identifying the nature and extent of unemployment in the economy. For example, NSSO uses the 'Current Weekly Status' (CWS) and 'Current Daily Status'  (CDS) of the workers to elaborate the estimates of employment in an average week and an average day respectively. 

The CDS criterion, thus, gives the estimate of the extent of underutilisation of the labour force in terms of person-days. In other words, the CDS estimate of unemployment is the most inclusive measure of unemployment made up of open unemployment and  visible underemployment. In fact, the difference between the unemployment rates given by CDS criterion and CWS criterion gives the rate of visible underemployment. 

The estimate of unemployed person-days given by the CDS criterion divided by 7 can also be interpreted as the estimate of  the number of persons unemployed on an average day. 

Similarly, these approaches lead to estimates of UPS employment, UPSS employment, CWS employment and CDS employment. The estimate of UPS employment represents the number of persons who are employed for a relatively longer period of time during the reference year, or  those who have stable employment. The UPSS criterion adds an additional group of persons to the UPS employed. These are UPS non-workers who have done intermittent work as a subsidiary activity during the reference year. CWS employment refers to those who are employed for at least an hour during the reference week or  the number employed in an average week. CDS employment measures the rate of utilisation of the labour force in terms of person-days. While the first three measures overestimate, to some extent, levels of employment because of the way they are defined, the CDS measure gives a closer estimate of these levels.   

Creation of employment opportunities depends on the volume and composition of economic activity in the economy, that is, the total output of goods and services in the economy and its structure. The total output of goods and services is called the Gross Domestic Product (GDP). Thus, levels of employment in an economy depend on the size and composition of its GDP. Factors that affect this basic relationship are: (i) the availability of capital, (ii) the availability of skills and expertise among the employed persons and (iii) the manner in which capital and labour (the number of employment persons) combine to produce the output of goods and services. In other words, a number of inter-dependent factors like material, financial and human capital, knowledge and technology utilised, productivity of labour and capital and Government policies shape this relationship. 

Posted Date: 11/10/2012 4:52:26 AM | Location : United States

Related Discussions:- Current daily status(cds), Assignment Help, Ask Question on Current daily status(cds), Get Answer, Expert's Help, Current daily status(cds) Discussions

Write discussion on Current daily status(cds)
Your posts are moderated
Related Questions
Q. What is Tradeable product? Tradeable:A product (a service or good) is tradeable if its purchaser can purchase it far away from the place where it is produced. Most goods (ot

What is Expenditure Function? The Expenditure Function: When preferences satisfy the local nonsatiation assumption, in that case v(p, m) will be strictly increasing into m.

Consider two individuals  M and F who must split 20 units of good X and 10 units of good Y. Suppose we can represent M's preference with the utility function Um =X ^2 mYm and Fs

What is the conditional mean: For every AR(1) model below: a. Do a three-period ahead forecasting using the given initial values and statistics.  Write a 95% confidence int

composite supply v/s joint supply

Mg(OH)2 + 2HCl-----> MgCl2 +2H2O how many grams of magnesium chloride can be produced from 14.60mL of a 0.546M hydrogen chloride solution?

1. Ayanna grows herbs. Last year she grew 2,000 pounds of herbs in a year while using 250 square feet of land and 1 worker. This year she doubled her land to 500 square feet, doubl

Discrimination: As a result of sexist and racist attitudes and deliberate efforts of employers to oppose groups of workers against each other, different groups of people (divided a

a. The diagram above depicts the current position of a hypothetical economy using the Keynesian Income/Expenditure approach. If national income is currently at Y1 explain why this