ECONOMICS - Chapter 13 Section 1

CYCLICAL UNEMPLOYEMENT

1. Demand for goods and services drop from recession.

STRUCTURAL UNEMPLOYMENT

1. Globalization 2. Lack of education or training for skills in demand 3. Discovery of new resources. 4. Development of new technologies. 5. Changes in consumer demand

SEASONAL UNEMPLOYMENT

1. People looking for a job when the school year ends.

FRICTIONAL UNEMPLOYMENT

1. People taking time looking for work after finishing school. 2. People getting laid off from their current jobs.

VERY LOW UNEMPLOYMENT

A healthy economy that is working properly.

STRUCTURAL UNEMPLOYMENT

People who do not finish high school often suffer from ________________.

UNEMPLOYMENT RATE

It is easy to find a job these days, since the _________________is low.

FRICTIONAL UNEMPLOYMENT

My aunt who left her job to care for her sick mother and is now looking for work is an example of _____________________.

SEASONAL UNEMPLOYMENT

My cousin Harold is used to _________________ since he works for a landscaping company and is laid off every winter.

UNDEREMPLOYED

The excellent mechanic who has been working as a clerk at a convenience store since the local repair shop closed is considered ________________.

FULL EMPLOYMENT

With _______________, nearly everyone who wants a job has a job.