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


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