Reference no: EM133686484

Question: Identify what type of unemployment each of the individuals faces. James is an architect who has been laid off owing to a slump in the demand for property. He feels he will have to wait until the economy picks up before he can get a new job. Eric is an experienced project manager who lost his job at a tech start-up because the company's product failed to become popular. He is confident he can get a new job and has already rejected a number of offers. Craig lost his job several months ago. He is having a hard time finding a job that pays him more than unemployment insurance does. Sarah is a recent economics graduate who is entering a difficult labor market, due to a severe recession. She is continuing to look for work but is having a hard time getting interviews. Hamid has just graduated as a lawyer from an esteemed law school. He is confident of getting a job and has already refused a few lower-paying jobs. James is facing: Cyclical Unemployment. Eric is facing: Frictional Unemployment Craig is facing: Structural Unemployment Sarah is facing: Cyclical Unemployment Hamid is facing: Frictional Unemployment