identify and give an example of each type pf unemployment. structural : cyclical : frictional :...

identify and give an example of each type pf unemployment.

structural :

cyclical :

frictional :

seasonal :

Solutions

Expert Solution

a) Structural Unemployment occurs due to sectoral reorganization because of technology changes, competition and government policy.

example When the government implements new wage laws,a firm would not like to hire low skill workers or when a firm moves to another country and the workers are unable to follow it.

b) Cyclical unemployment occurs due to regular ups and downs in the economy,production in the business cycles.

Example when a recession occurs,the demand for house sale in an area decreases which will force the real estate agents to look for a new job.

c) Frictional unemployment occurs temporarily as the workers would be looking for a job or there is a mismatch because of incomplete information.

example a student just graduated and is looking for a job with a company or when a person moves to a new place and starts looking for a job or when a company is not hiring citing the lack of qualified workers when actually it isn't true.

d) Seasonal unemployment occurs due to change in seasons as some industries will be out of production during certain seasons mainly in agriculture or tourism industry.

Example a resort hiring less workers during the summer months as there is no demand during the off-season when there is no snow

Rahul Sunny answered 1 year ago

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