3 Types of Unemployment
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Structural
unemployment due to changes in the structure of the economy such that people in certain industries experience job losses. I.E. job loss due to automation and globalization
Cyclical
unemployment due to down turns in the business cycle. Job losses are not industry specific.
Frictional
unemployment due to the normal workings of the labor market. I.E. people moving in and out of careers, people moving across the country, people who quit their job + start looking for another one
