what do you mean by unemployment ? Explain different types of unemployment.(5 marks)
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Explanation:
Unemployment occurs when a person who is actively searching for employment is unable to find work. ... 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.
Three types of unemployment are most commonly referenced by economists when calculating the unemployment number - structural unemployment, cyclical unemployment, and frictional unemployment.
Structural Unemployment. ...
Cyclical Unemployment. ...
Frictional Unemployment.
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unemployment means not having job.
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