Types of unemployment ECONOMICS
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Structural unemployment
Caused by long term changes in the structure of the industry, when workers skills and qualifications do not meet the needs of firms
Frictional unemployment
The time in between two jobs, workers are not able to perfectly synchronise leaving one job and joining another
Cyclical unemployment
Unemployment caused by short run fluctuations in aggregate demand,
Seasonal unemployment
at particular times of the year, firms cut production and release workers, I.e an ice cream man loses his Jon in winter
Voluntary unemployment
People who chose not to work, due to low wage rates, they merely rely on the welfare system