15A_TypesUnemployment

15A_TypesUnemployment - Types of Unemployment Unemployment...

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Types of Types of Unemployment Unemployment Readings: Zagorsky textbook chapter 8
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Causes and Types of Unemployment
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Types of Unemployment Structural Cyclical/Demand Deficient Seasonal Frictional Seasonal plus Frictional unemployment is called the natural rate . Natural rate is amount of unemployment that does not go away on its own even in the long run.
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Key Idea Unemployment is a waste of a country’s labor resources. Unemployment is caused by multiple reasons. Goal of the manager when hiring an unemployed worker is understand what caused the job loss. If worker lost job through no fault of their own (ex. Cyclical unemployment) and has necessary skills then this is probably a good person to hire. If worker lost job for structural reasons this might not be a good person to hire unless they are retrained.
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Workers who lost their jobs and want new ones because society’s structure and type of jobs available has changed. Structural change occurs both:
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15A_TypesUnemployment - Types of Unemployment Unemployment...

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