Types of unemployment, Microeconomics

Types of unemployment:

Frictional Unemployment:-It refers to unemployment caused by changes in individual labour markets.This is the type of unemployment resulting from people who have left jobs that did not work out and are searching for new employment or people who are either entering or re-entering the labour force to search for a job.

Structural Unemployment: This is unemployment resulting from changes in the pattern of demand for goods and services or changes in technology. These changes may in turn alter the structure of the total demand for labour rendering some particular skill less in demand or may become obsolete. The demand for other skills however may expand. Unemployment in this case is the result of the composition of the labour force which does not respond quickly to new structures of job opportunities.

Cyclical Unemployment: This is the type of unemployment resulting from decline in real aggregate output in the economy. It can also be defined as unemployment caused by deficiency of aggregate or total spending. This is sometimes referred to as deficient-demand unemployment.

Posted Date: 1/3/2013 12:35:11 AM | Location : United States







Related Discussions:- Types of unemployment, Assignment Help, Ask Question on Types of unemployment, Get Answer, Expert's Help, Types of unemployment Discussions

Write discussion on Types of unemployment
Your posts are moderated
Related Questions
The market demand function of a firm is given by 4P + Q - 16 = 0 And the AC function takes the form AC = 4/Q + 2 - 0.3Q + 0.05Q 2 Find the Q which gives: (a)  Maxim

A type of economy (like in Europe in the Middle Ages) which is primarily agricultural however productive enough to support a class of merchants andartisans. Feudal societies are co

Effect of Gasoline Tax with Rebate Assume -Income = $9,000 - Price of gasoline = $1


Communications: Noting the importance of improved communications in increasing productivity and welfare, the New Telecom Policy (NTP) was introduced in 1999. NTP 99 was aimed

1. Suppose that Mr. John has the following Cobb-Douglas utility function U = 6X^2/3y^1/3 the market price of X and Y commodity are $1 and $2, respe


Florida citrus mutual, an agricultural cooperative association for citrus growers in Florida, needs to predict what will happen to the price and output of Florida oranges under the

Distinction between Human Capital and Resource and Manpower Health and education are normally considered as human capital. Health includes both physical health and fitness. E

The goal is to replicate a real life product development and familiarize students with the invent process of a system, component, or process to meet desired wants within realistic