What is physiology?
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Structural Unemployment is an unemployment experienced when there is shifts in the economy as a result of changes in technology, decline in an industry etc.
- A typical example of this type of unemployment is the unemployed paper mill worker.
Cyclical Unemployment is an unemployment experienced as a result of economic recession or expansion.
- A typical example of this type of unemployment is an unemployed banker during a recession
Frictional Unemployment is an unemployment experienced when workers voluntarily resigned to search for a better job.
- A typical example of this type of unemployment is an unemployed cashier.
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