Lecture Notes 4-13-10 - Lecture Notes Chapter 20 Economics...

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Lecture Notes Economics T-Th A. Ordonez Chapter 20 809-195-3K1C 4/13/10 Why are there always some people unemployed? Frictional unemployment - Results from the time that it takes to match workers with jobs - It takes time for workers to search for the jobs that best suit their tastes and skills. - Job Search - is the actually process by which workers find appropriate jobs given their tastes and skills. - Frictional unemployment is inevitable because the economy is always changing - Change is in the composition of demand among industries or regions are called sectoral shifts. - it takes time for workers to search for and find new jobs in new sectors Government programs can affect the time that it takes unemployed workers to find new jobs. - Government-run employment agencies - Public training programs - Unemployment insurance Government-run Employment Agencies give out information about job vacancies in order to match workers and jobs more quickly. Public Training Programs aim to ease the transition of workers declining to growing industries and to help disadvantaged groups escape poverty. Unemployment Insurance is a government program that partially protects workers' incomes when they become unemployed. Unemployment Insurance
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This note was uploaded on 05/10/2010 for the course ECONOMICS 809-195-3K taught by Professor A.ordonez during the Spring '10 term at Gateway Tech.

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Lecture Notes 4-13-10 - Lecture Notes Chapter 20 Economics...

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