3. Types of unemployment The three people described in the following table are c
ID: 1119030 • Letter: 3
Question
3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. ldentify each person in the table as structuralily, frictionally, or cyclically unemployed Unemployment Type Nick left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated Structural Frictional Cyclical h union wage but remains unemployed due to a lack of plumbing jobs. Rosa is a physician who has decided to relocate to California to be closer to her famil. She is currenty interviewing with several prestigious hospitals in the San Frandisco Bay Area. Alyssa is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time jot The following table shows data on frictional, cyclical, structural, and total for an economy. Rate Unemployment Type (Percent) 3.3 0.0 1.0 4.3 Frictional Cyclical Total unemployment True or Felse: This economy is currently at its natural rate of unemployment.Explanation / Answer
Structural unemployment: It is the mismatch between jobs available and skills the person acquired.
Cyclic unemployment: It is when the person loose his / her job due to downturn in their business.
Frictional unemployment : It is the process where people need to move from one job to another due to various reasons.
From the given data:
In the case of plumber it is structural unemployment as he has mismatch between job he is being provided and skill he acquired.
In the case of physician it is frictional unemployment because she is moving from one job to another due to family reasons.
In case of real estate agent it is cyclic becuase there is downfall in his business in that particular area.
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