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Hello everyone.
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So this question has various parts.
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Firstly, we look into some points.
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We'll elaborate several points and then we'll move to the question.
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So firstly, we'll start with what is unemployment rate.
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Now, unemployment rate is the number of unemployed out of the total labour force.
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So the labour force is the sum of employed and unemployed.
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And the unemployment rate is the percentage of people who are unemployed out of the total labour force.
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So unemployment rate is the percentage of people who are unemployed out of the total labour force.
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Now there are various types of unemployment.
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First one is structural unemployment.
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Now structural unemployment occurs when job opportunities or job skills does not match with the worker preference whereas does not match with the worker preference.
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Now, next is frictional unemployment...