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
Comparison with Our Needs: We can further test our performance by juxtaposing it with our requirements. Admittedly, it is very difficult to determine 'needed' rate of growth w

explain how scarcity impacts choice 2.expain the three steps process in economic analysis

Explain about the term cost function. Cost Functions This function measures the minimum cost of producing a specified level of output for some fixed factor prices. Likewise

why is choice inevitable in the understanding of economics science?

Time Value of Money The time value of money is the price or value placed on time. It is commonly thought of as the opportunity cost related with a particular investment. Money

Using the key distinguishing features of any market structure describe the market structure for the South African mobile telecommunications industry

Price Elasticity A measure of the change in demand for a product relative to unit changes in the price of the product. If the percentage change in quantity demanded is greater

What are the factors that producers in the society may take into consideration when deciding on the what to produce,how to produce and for whom ?

FACTORS RESPONSIBLE FOR POLICY FAILURES: It is the subject of many official and academic studies to try and find out the reasons for the inability of many, in fact, most of th

The Law for Diminishing Marginal Returns - As use of an input increases in equal increments, a point will be approched at which the resulting additions to output decreases