TYPES OF UNEMPLOYMENT DEFINITION
1. Frictional ASSIGNMENT 3
Frictional unemployment is
Unemployment a form of unemployment that
occurs when people are looking
for work or switching
professions. As a result, it exists
even when the economy is
thought to be at full
employment because it is a
component of natural
unemployment.
2. Structural Unemployment Structural unemployment is
a sort of forced unemployment
brought on by a discrepancy in
the abilities that the labor force
can give and the skills that
companies require of their
employees.
3. Cyclical Unemployment Cyclical unemployment arises
as a result of shifts in economic
activity during the business
cycle. A lack of demand for
goods and services during a
downturn in the economy
causes a shortage of
employment opportunities for
individuals who wish to work.
4. Seasonal Unemployment Seasonal unemployment is
when workers who depend on
seasonal work lose their jobs
when the need for labor
declines. This often happens
towards the end of a season or
the beginning of a new one,
whether it be for a holiday or
because of weather changes.
5. Societal Unemployment Societal Unemployment
happens when people who have
criminal records or disabled
have difficulty on finding new
job.
EXAMPLES
A worker who quits their job
thinking that there are another
job lining up for them.
A person from a marketing
production is asked to go to
accounting management. Due
to the lack of knowledge, it
causes an unemployment.
When there is a high
demand on cake products on
holiday season, more
employees are needed, but
when it is no longer in demand,
there will be a decrease in
employment.
The sale of Christmas
decorations such as Christmas
trees, Christmas lights or
Christmas inspired cloths are
only in demand on Christmas
season. But after that season,
the workers became
unemployed.
An Ex-convict looking for a
job, but still unemployed due to
their criminal records.