Question
Download Solution PDFWhat type of unemployment occurs when a worker loses their current job and is in the process to find a new one?
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDF- Frictional unemployment occurs when a worker loses a job and is in search of a new job in the market.
- Hence, there can never be complete employment in society as there will be someone who is changing a job and looking for a new one.
| Type | Description |
| Cyclical | Individuals lose their jobs as a result of a downturn in aggregate demand. Example: In a recession |
| Seasonal | It is unemployment that exists because certain industries only produce or distribute their products at certain times of the year. For example in festive decoration industry |
Last updated on Jun 2, 2025
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