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Joe lost his job in the factory he worked in as the factory lost its competitiveness in the domestic market over cheap imported products. Joe now...

Joe lost his job in the factory he worked in as the factory lost its competitiveness in the domestic market over cheap imported products. Joe now cannot find a job that utilizes his skills. Is Joe frictionally unemployed, structurally unemployed or cyclically unemployed? Explain your answer. 

Top Answer

STRUCTURALLY UNEMPLOYED Explained as follows,Structural unemployment is caused by shifts in the economy... View the full answer

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cyclically unemployed We consider Joe to be cyclically unemployed because... View the full answer

In this case, Joe... View the full answer

Attached is a detailed explanation... View the full answer

Here is the explanation for... View the full answer

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