Are the costs of unemployment more severe for frictional or structural unemployment? Why? Are the costs...

Are the costs of unemployment more severe for frictional or structural unemployment? Why? Are the costs of unemployment more severe for frictional or structural unemployment? Why?

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Expert Solution

UNEMPOyLMENT is a situation in which a person is wish to work or ready to doing work but unable to get a job.

There are many couses are leads to the situation of Unemployment these are like structural chenge, Geographical immobilities and technological immobilities etc.Unemployment negatively affects the society in many ways.

Unemployment can be in voluntary(by choice of a person being unemployed) and Involuntary(willing to work but not get a work)

TyPES OF UNEMPLOyMENT:

CyCLICAL:due to down turns in Business cycles

FRICTIONAL:Time between the jobs a worker spends.It is considerd a short term. It is basically not a serious kind of unemployment.

STRUCTURAL:It is a most serious kind of Unemployment.In its a person is ready to doing work but He/she deosnt get job that is related to his/her skills. so may be they are unemployed for many months or years.

SEASONAL:it is also like a structural unemployment becouse the skills are not needed in all time in a year eg:SCHOOL BAG MAKERS.

Hence the cost of structural Unemplyment is more than the frictional Unemplyment.

Rahul Sunny answered 1 year ago

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