Question

what is cyclic unemployment​

Answer 1

Answer:

Definition: Cyclical unemployment is a type of unemployment which is related to the cyclical trends in the industry or the business cycle. ... Cyclical unemployment is directly related to the macro-economic situation in the economy. It would rise at a time of recession, while reduce when the economy starts recovering

Answer 2

• Cyclical unemployment is a type of unemployment which is related to the cyclical trends in the industry or the business cycle.
• If an economy is doing good, cyclical unemployment will be at its lowest, and will be the highest if the economy growth starts to falter.

• Example of cyclical unemployment is when an automobile worker is laid off during a recession to cut labor costs. During this downturn, people are buying fewer vehicles, so the manufacturer doesn’t need as many workers to meet the demand. But when the economy starts to power up again and consumers begin to spend more money on buying vehicles, the unemployed worker may be rehired to meet the demand. Thus, his or her unemployment is cyclical, dependent on business cycles.

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