00:01
Hello, welcome to this lesson.
00:03
In this lesson, the question for our consideration is to what types of unemployment can a lack of employability contribute? all right.
00:12
So we have cyclical and seasonal unemployment.
00:18
So when the fluctuations in the economy, all right, it leads to cyclical unemployment and seasonal unemployment is when there's a type of economy.
00:33
Of job which arise at a certain season.
00:36
So for example, if people are laid off when there's a shortage of some raw material because of drought or because it's not the season for that raw material to be harvested, it can be seasonal unemployment.
00:55
All right.
00:57
Now, what will look at cyclical and seasonal, they are not related to lack of employability, all right.
01:08
Now, if you look at fractional and structural unemployment, fractional unemployment is when somebody is transitioning.
01:19
So, for example, they used to study or they were into arts and now they are learning to program.
01:28
So they are transitioning from one job to the other...