Causes and Types of Unemployment

Causes and Types of Unemployment - Causes and Types of...

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Causes and Types of Unemployment Key Idea: Unemployment is a waste of country’s labor resources Unemployment is caused by multiple reasons Understanding which reason is currently causing unemployment is important because the solution for fixing the problem differs depending on the cause o Flu vs. stomach virus Types: Structural o Workers who lost their jobs and want new ones because society’s structure has changed Whole world: Buggy whips Stenographers Just in one country U.S. steel workers Cyclical/Demand Deficient o Workers who lost their jobs and are searching for work due to the up and down cycles in the overall economy After 9/11…people stopped flying as much, Airlines laid off workers, now people fly again Seasonal o Loss of jobs caused by changes in season Life guards in September in the NE Ski instructors in June X-mas sales help in January Frictional o Unemployment cause because it takes time for job seekers to find and match with
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Causes and Types of Unemployment - Causes and Types of...

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