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!
Topics: Unemployment, Structural, Cyclical, Frictional, Discouraged workers, Calculating Unemployment, BLS.
- Give examples of a frictionally unemployed, structurally unemployed, and cyclically unemployed person.
- During a recession, which type of unemployment increases?
- Explain why structural unemployment isn't necessarily a "bad" thing.
Although most people are familiar with unemployment, did you know that there are three different kinds of unemployment?
This video is about a student struggling to understand economic concepts. He then finds an ad from someone offering to help struggling students understand economics. Little did he know...
The video is a remake of Luke Bryan’s “Kick the Dust up”. The song is about an individual who is experiencing creative destruction in the agriculture industry. She decides to enter the service industry
I’m a Saver is a remake of P!NK’s song titled “Say What”. The song follows an individual as they struggle with being a spender and as they transition to being a saver. The individual experiences a change in their time preferences and learns new ways to save.
Are you teaching unemployment? Teaching unemployment can get dry and, at times, feels like you are searching for stories to match the definitions of frictional, structural or cyclical unemployment. I applaud you for trying to bring economics to life. If you are looking for another resource, here is one to use in class.