Identify Each Person In The Table As Structurally, Frictionally, Or Cyclically Unemployed.

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Identify Each Person In The Table As Structurally, Frictionally, Or Cyclically Unemployed.

eau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. 1. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Caroline. 2. Shen recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. 3. Valerie just graduated from college and is looking for a full-time position with an investment banking firm.
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1. Cyclical unemployment 2. Structural unemployment 3. Frictional unemployment Structural unemployment arises from a mismatch between the jobs available in some labor markets and the skills of workers. One cause of structural unemployment is institutional factors such as a minimum wage, which holds wages above the marginal productivity of less skilled workers, limiting their employment opportunities. Frictional unemployment occurs because job seekers and employers need time to find one another. Therefore, Valerie is considered to be frictionally unemployed. This kind of unemployment is usually brief. Cyclical unemployment is the form of unemployment associated with business cycles. This kind of unemployment rises during recessions and falls during expansions. Because Caroline lost her job due to the recession, she would generally be considered to be cyclically unemployed.
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