Question

classify and explain the types of unemployment

Answer 1

the employment are don't have a work in life so there unemployment( example )in the house,office

Answer 2

Answer:

Unemployment occurs when a person who is actively searching for employment is unable to find work. Unemployment is often used as a measure of the health of the economy. The most frequent measure of unemployment is the unemployment rate, which is the number of unemployed people divided by the number of people in the labor force.

1.)Natural Unemployment :

There will always be some level of unemployment, even in a healthy economy.

The lowest level of unemployment was 2.5 percent, right after the Korean War. This was an economic bubble that soon led to a recession. The natural unemployment rate of 4.5 to 5 percent is a healthier indicator.

Natural unemployment consists of two of the three main types of unemployment.

2). Frictional Unemployment

Frictional unemployment occurs when workers leave their old jobs but haven't yet found new ones. Most of the time workers leave voluntarily, either because they need to move, or they've saved up enough money to allow them to look for a better job.

Frictional unemployment also occurs when students are looking for that first job or when mothers are returning to the workforce. It also happens when workers are fired or, in some cases, laid off due to business-specific reasons, such as a plant closure.

Frictional unemployment is short-term and a natural part of the job search process. In fact, frictional unemployment is good for the economy, as it allows workers to move to jobs where they can be more productive.

3). Structural Unemployment :

Structural unemployment exists when shifts occur in the economy that creates a mismatch between the skills workers have and the skills needed by employers.

An example of this is an industry’s replacement of machinery workers with robots. Workers now need to learn how to manage the robots that replaced them. Those that don't learn need retraining for other jobs or face long-term structural unemployment.

A long recession often creates structural unemployment. If workers stay unemployed for too long, their skills have likely become outdated. Unless they are willing and able to take a lower-level, unskilled job, they may stay unemployed even when the economy recovers. If this happens, structural unemployment leads to a higher rate of natural unemployment.