mimechanic85 mimechanic85
  • 04-12-2017
  • Business
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What are the four different kinds of unemployment and the characteristics of each

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carlafossil320
carlafossil320 carlafossil320
  • 04-12-2017
Structural:
A given set of skills is not needed by an economy, so people with those skills cannot find employment
Frictional:
When people are in a set period of unemployment whilst they wait to get a job that is already secured, or when people are looking for their first job
Seasonal:
When there is unemployment as the jobs only exist at certain times of the year (e.g. retail jobs at Christmas)
Cyclical:
When the growth of the economy has slowed and there is no demand for the production of the workers at all
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