Four, Five Seconds of Unemployment

 

Although most people are familiar with unemployment, did you know that there are three different kinds of unemployment? Here we cover the three types: structural, frictional, and cyclical. Each situation covers a different type!

Chapter: Unemployment

Topics: Unemployment, Structural, Cyclical, Frictional, Discouraged workers, Calculating Unemployment, BLS. 

Questions

  1. Give examples of a frictionally unemployed, structurally unemployed, and cyclically unemployed person. 
  2. During a recession, which type of unemployment increases?
  3. Explain why structural unemployment isn't necessarily a "bad" thing. 

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