Unemployment that is of a short duration to allow time to find a new job is:
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Is unemployment typically short-term or long-term? Explain.
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Frictional unemployment results from seasonal changes in the business cycle that result in increases and decreases in the demand for labor at different times of the year. It occurs when individuals are in between jobs and are actively searching for new employment, leading to relatively short periods of unemployment. Frictional unemployment is not caused by a surplus or shortage of labor in specific markets due to wage rates being above or below the equilibrium wage rate.
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By offering training to workers whose firms laid them off because of competition from foreign firms, the federal government is attempting to reduce a. seasonal unemployment. b. frictional unemployment. c. cyclical unemployment. d. structural unemployment. e. unnatural unemployment.
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