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22 March, 04:30

What are the four different kinds of unemployment and the characteristics of each

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  1. 22 March, 08:14
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    Structural:

    A given set of skills is not needed by an economy, so people with those skills cannot find employment

    Frictional:

    When people are in a set period of unemployment whilst they wait to get a job that is already secured, or when people are looking for their first job

    Seasonal:

    When there is unemployment as the jobs only exist at certain times of the year (e. g. retail jobs at Christmas)

    Cyclical:

    When the growth of the economy has slowed and there is no demand for the production of the workers at all
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