im having a hard time understanding this and just really confused on how this plays a part in general unemployment.
In: Economics
There are four types of unemployment.
Seasonal- ski instructors and teachers do something different in the summer.
Cyclical- business cycle related, all boats rising and falling together ect.
Structural- learn to code, whoops, a robot does that now.
And lastly frictional – I am between jobs, I quit my job on Monday and don’t start my next one until February. I just graduated school and trying to find my first job.
Frictional happens no matter what, in an economy someone will be unemployed no matter what and that is frictional.
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