Question

The descriptions below give the responses of four individuals to a Bureau of Labor Statistics (BLS) survey of employment. Use them to answer the question that follow:______. A. Lorraine just graduated from college and is now looking for work. She has had three job interviews in the past month and is waiting for an offer from one of those potential employers. B. George is dissatisfied with his current job and is considering quitting or working part-time. C. Christine worked as a bank-teller she lost her job last year when banks finally decided to automate all their operations. She has been looking for similar work for a year, but no company seems interested in her bank-teller skills. D. Ricardo lost his job last year when his company downsized and laid off middle-level managers. He tried to find another job for six weeks but was unsuccessful. As a result, he quit looking for work.

Answer 1

Explanation:

A. This is the case of Cyclical unemployment here lorraine is just graduated and does not find any job inspite of applying with many of the employers. Here the economic condition of the country is below its full capacity.

B. It is example of potential frictional unemployment as George takes time to move on from current job to a part time job. Frictional unemployment is the time taken to move from one job to another.

C. This is an example of structural and technological unemployment as there is a mismatch between the labor market required skills and the skills of the candidate. Christine has bank teller skills but it is not matched with skills expected by banks.

D. It is called as frictional unemployment where Ricardo is out of job due to lay off by the company. The period between a jobless situation and job is frictional unemployment.