Types of Unemployment
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This paper defines and discusses four types of unemployment; demand-driven, season, frictional and structural. The paper also examines a recent Federal Open Market Committee (FOMC) statement and compares that to the most recent Fed statement to Congress.
From the Paper:"When analysts consider the issue of unemployment, it is critical to understand which type of unemployment they are evaluating. The following types of unemployment are generally recognized by economists; demand deficient, cyclical, seasonal, frictional, search and structural. Demand-deficient unemployment occurs when demand for labor outpaces the supply. In other words, this type of unemployment occurs when there are more people willing to work than there are jobs available. This type of unemployment is also called cyclical because it is thought to mirror the business..."
Cite this Term Paper:
Types of Unemployment (2008, December 01) Retrieved August 05, 2020, from https://www.academon.com/term-paper/types-of-unemployment-121431/
"Types of Unemployment" 01 December 2008. Web. 05 August. 2020. <https://www.academon.com/term-paper/types-of-unemployment-121431/>