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Unraveling Unemployment: Types & Their Real-World Implications Explain
Chapter 9, Problem 4(choose chapter or problem)
Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment.
a. Tim just graduated from college and is looking for a job.
b. A recession causes a local factory to lay off 30 workers.
c. Thousands of bus and truck drivers permanently lose their jobs to self-driving vehicles.
d. Hundreds of New York legal jobs permanently disappear when a lot of legal work gets outsourced to lawyers in India
Questions & Answers
QUESTION:
Label each of the following scenarios as either frictional unemployment, structural unemployment, or cyclical unemployment.
a. Tim just graduated from college and is looking for a job.
b. A recession causes a local factory to lay off 30 workers.
c. Thousands of bus and truck drivers permanently lose their jobs to self-driving vehicles.
d. Hundreds of New York legal jobs permanently disappear when a lot of legal work gets outsourced to lawyers in India
ANSWER:Step 1 of 4
a) Tim will be considered frictional unemployed as he is looking for a job.
This is when people are between jobs or are new entrants to the workforce. It's generally short-term and a natural part of the job search process.