To understand why someone cannot get a job, it helps to know the three types of unemployment. List the three types of unemployment and explain what causes each type
What advice for finding a job would be appropriate for someone in each type of unemployment?
Frictional unemployment is the unemployment that arises from the process of matching workers with jobs. These workers are qualified; they just need to search for a job. The advice for finding a job would be to keep searching, because there are jobs available for which they are qualified.
Structural unemployment is unemployment arising from a persistent mismatch between the skills and characteristics of workers and the requirements of the jobs. The advice for finding a job would be to retrain so that they can match up with the requirements of current jobs.
Cyclical unemployment is unemployment caused by a business cycle recession. The advice for finding a job would be to hang in there and continue searching, but realize that there are less jobs available than the number of applicants. The cyclically unemployed person could perhaps get a temporary job until the economy picks up, or perhaps consider continuing his or her education while the business cycle slowdown lasts.
You might also like to view...
The one organization that has the power to change the total amount of reserves in the banking system is the
A) Executive Branch of the Federal Government. B) U.S. Treasury. C) Federal Reserve System. D) Congress.
Refer to the table below. If Stuffed Pies is currently producing 7 units of quality, to maximize profit, Stuffed Pies should ________ the units of quality.
Stuffed Pies is a frozen calzone manufacturer. The table above summarizes Stuffed Pies' marginal revenue and marginal cost of quality at various quality amounts.
A) not change
B) decrease by 50 percent
C) increase
D) decrease
The GDP of a country can be derived by summing
a. the expenditures on final user goods and services produced domestically during the year. b. the payments to employees and owners of capital resources and then subtracting depreciation and indirect business taxes. c. the market value of all goods and services produced domestically during the period and then subtracting net exports from that figure. d. the income payments to the resource suppliers and net exports.
The PPF between goods X and Y will be a downward-sloping
A) straight line if increasing opportunity costs exist. B) straight line if decreasing opportunity costs exist. C) curve that is bowed inward if increasing opportunity costs exist. D) straight line if constant opportunity costs exist.