Unemployment classification, Macroeconomics

Assignment Help:

Unemployment classification

Economists sometimes differentiate between different types of unemployment. There are many type of ways of classifying unemployment however the following is quite common.

Frictional unemployment. Individuals which are temporarily unemployed whereas transiting between jobs or just entering the labour market. This kind is characteristically short in duration however always present in a market economy.
Structural unemployment. Individuals which are unemployed since their skills are no longer in demand where they live. This kind typically results in longer spells and may need the unemployed to acquire training or to move.
Cyclical unemployment. Unemployment because of a recession.
Classical unemployment. Unemployment because of real wages being too high (for instance through minimum wage laws).

Related Discussions:- Unemployment classification

Explain the says law, Q. Explain the Says Law? GDP, and Say's Law ...

Q. Explain the Says Law? GDP, and Say's Law Aggregate supply Y S = f(L, K) in the classical model where L is concluded in the labor market while K is

Indiana toll road at the rate of two per minute, Automobiles arrive at the ...

Automobiles arrive at the Elkhart exit of the Indiana Toll Road at the rate of two per minute. The distribution of arrivals approximates a Poisson distribution. A) What is the prob

What are the main aspects of globalisation, What are the main aspects of gl...

What are the main aspects of globalisation Two of the other main aspects of globalisation are greater international mobility of capital and to some extent of labour. Globalisa

#title.homework help, 1) Why does the adoption of Keynesian economics come ...

1) Why does the adoption of Keynesian economics come out of the Great Depression? 1) Why does the adoption of Keynesian economics come out of the Great Depression? 2) What will ha

What is is-lm model with inflation, Q. What is IS-LM model with inflation? ...

Q. What is IS-LM model with inflation? The IS-LM model with inflation The basic assumption We developed IS-LM model with constant wages and prices. We can now exten

Budget constraint, The consumer's utility function is u(x1,x2) = (x1) (x2)^...

The consumer's utility function is u(x1,x2) = (x1) (x2)^2 (a) Graph his budget constraint for p1 = 3, p2 = 2 and M = 900, and write down the equation for his budget line. (b)

The Assignment, OPEC oil cartel becomes subject to this tension or conflict...

OPEC oil cartel becomes subject to this tension or conflict such that the cartel gives way to a more competitive oil market resulting in a dramatic decrease in the world oil price.

The structural deficit, The structural deficit: A. falls as the economy exp...

The structural deficit: A. falls as the economy expands and rises when it contracts. B. changes as actual income changes regardless of potential income. C. does not change when inc

Willing to hold money, Was money a better store of value in the United Stat...

Was money a better store of value in the United States in the 1950s than it was in the 1970s? Why or why not? In which period would you have been willing to hold money? Which one w

Explain function of AS-AD model, Q. Explain function of AS-AD model? Th...

Q. Explain function of AS-AD model? The function of AS-AD model is to extend IS-LM model so that we can analyze situations where Y > Y OPT . To achieve this, we should make P e

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages