Question

Engineers and capital equipment manufacturing managers who have been recently laid off because companies are not buying new capital equipment due to an economic downturn (recession) will cause an increase in:

Answer 1

Engineers and capital equipment manufacturing managers who have been recently laid off because companies are not buying new capital equipment due to an economic downturn (recession) will cause an increase in: Cyclical Unemployment. This is further explained below.

What is Cyclical Unemployment?

Generally, Unemployment that is cyclical in nature, such as the sort seen during the current economic downturn, is referred to as cyclical unemployment.

In conclusion, Cyclical unemployment will be caused by engineers and capital equipment production managers who have just been laid off as a result of firms not purchasing new capital equipment as a result of the economic downturn (recession).

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Answer 2

The fact that the engineers and capital equipment managers have been laid off because of the economic downturn will increase cyclical unemployment.

What is cyclical unemployment?

This is a type of unemployment that happens when there is a loss of productivity in the economy.

The loss of jobs by these engineers and managers will therefore lead to more cyclical unemployment.

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