Question

"The three types of unemployment are A. ​full, frictional, and involuntary unemployment. B. ​natural, unnatural, and cyclical unemployment. C. ​voluntary, structural, and cyclical unemployment. D. ​frictional, structural, and cyclical unemploment."

Answer 1

Answer:

D. ​frictional, structural, and cyclical unemploment.

Explanation:

Types of Unemployment

There are three basic types of unemployment which are the cyclical, frictional, and structural.

Cyclical Unemployment

Is due to the highs and lows of the economy, as in cycles e.g in times of recession, the job lost is know as cyclical unemployment.

Frictional Unemployment

It results from the actual turnover in the labor market and the time taken to get a new job. E.g. when a worker change his/her job, it requires time to get a name job and learn more of the job in details for him/her to be called up for interview and get hired. This process is termed frictionally unemployed.

Structural Unemployment

Originates from a lack for demand for a specific class of worker due to the worker lacking the appropriate skills needed by the employee as this can cause the worker to lose the job. Another example is sourcing for a reduced cost of labour abroad.