Question

Match each form of unemployment with an example. Note that every item may not have a match.

a. cyclical unemployment
b. structural unemployment
c. frictional unemployment


1. An unemployed paper mill worker. The local paper mill shut down due to lack of demand for paper products in a digital age.

2. An unemployed banker during a recession. The banker would be hired back once the economy began growing normally again.

3. A retiree. After a successful career in real estate, she now lives off her retirement savings and Social Security.

4. An unemployed stockbroker who is willingly taking some time off before looking for a new job.

5. An unemployed cashier. A small clothing store shut down due to its customers buying clothes from a new big-box retailer.

Answer 1

Answer:

1. Structural unemployment

2. Cyclical Unemployment

3. No match

4. Frictional unemployment

5. No match.

Explanation:

a. Cyclical Unemployment can be described as an unemployment that occurs when there is a low demand for goods and services in a country as a result of slow economic growth or recession.

b. Structural unemployment is an unemployment that occurs because of industrial reorganization coming from technological change that makes current skills of workers obsolete.

c. Frictional unemployment is unemployment that occurs when people are in the process of searching a new job and changing from one job to another.

Based on the above definition, we have:

1. Structural unemployment

2. Cyclical Unemployment

3. No match

4. Frictional unemployment

5. No match.

Answer 2

Answer: No 1, cyclicnal unemployment

2, Cyclical Unemployment

a, Cyclical unemployment is unemployment that results when the overall demand for goods and services in an economy cannot support full employment. It occurs during periods of slow economic growth or during periods of economic contraction. This can be match to 1 and 2

b, 3and 4.

Frictional unemployment is a type of unemployment. It is sometimes called search unemployment and can be based on the circumstances of the individual. It is time spent between jobs when a worker is searching for a job or transferring from one job to another.

C. 5,

Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers. Structural unemployment is often brought about by technological changes that make the job skills of many workers obsolete.

Explanation:

Unemployment is a term referring to individuals who are employable and seeking a job but are unable to find a job.

Usually measured by the unemployment rate, which is dividing the number of unemployed people by the total number of people in the workforce, unemployment serves as one of the indicators.