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Define frictional unemployment and structural unemployment?
Most Upvoted Answer
Define frictional unemployment and structural unemployment?
1. frictional unemployment refers to that unemployment which is occur due to imperfections in the mobility of labour across different ocupations.
2. structural unemployment refers to that unemployment which is occur due to structural change in economy.
it can be divided into two parts :
1. change in technology.
2. change in demand.
2. structural unemployment refers to that unemployment which is occur due to structural change in economy.
it can be divided into two parts :
1. change in technology.
2. change in demand.
Community Answer
Define frictional unemployment and structural unemployment?
Frictional Unemployment
Frictional unemployment refers to the temporary period of unemployment that occurs when individuals are in the process of transitioning between jobs. This type of unemployment is typically voluntary and short-term, as individuals are actively seeking new employment opportunities.
- Occurs due to factors such as job search, relocation, or changing career paths
- Considered a natural part of a healthy labor market
- Results from the time lag between leaving one job and finding another
Structural Unemployment
Structural unemployment is a more long-term form of unemployment that results from shifts in the economy, such as changes in technology, globalization, or shifts in consumer demand. This type of unemployment occurs when there is a mismatch between the skills of the workforce and the available job opportunities.
- Caused by changes in the structure of the economy
- Often requires retraining or education to address the skills gap
- Can lead to persistent unemployment in certain industries or regions
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Define frictional unemployment and structural unemployment?
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Define frictional unemployment and structural unemployment? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Define frictional unemployment and structural unemployment? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Define frictional unemployment and structural unemployment?.
Define frictional unemployment and structural unemployment? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Define frictional unemployment and structural unemployment? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Define frictional unemployment and structural unemployment?.
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