Question

Which type of unemployment is found in developed nations?

Answer 1

Answer: Structural Unemployment , Frictional unemployment  and  Cyclical unemployment

Explanation:

The following are the three unemployment found in the developed nations:

• Structural Unemployment

• Frictional unemployment

• Cyclical unemployment

Structural unemployment arises when there is a mismatch between the unemployed persons and the requirement for specified workers for employment. The situation arises when we see an uptick in the demand for one class of labour leading to a decline in the the demand for another class of labour . This happens because of the changes in the technology or due to a change in the structure of demand for the industrial products in the economy.

Frictional unemployment refers to an unemployment situation which occurs because of frictions like lack of information in the market regarding both availability of jobs and perfect mobility on the part of workers. The distinctive feature of such unemployment situation is that the number of job vacancies is exactly the same to the unemployed person in the economy.

Cyclical unemployment occurs due to deficiency of effective demand which increases during depression or recession. It is termed as cyclical as both recession and depression are part of the business cycle.The situation of cyclical unemployment arises when the total effective demand of the population is unable to absorb the entire goods produced from the existing stock of capital.

Hope this helps.

Answer 2

The types of unemployment found in developed countries are Cyclical unemployment, Frictional unemployment, and Voluntary unemployment.

EXPLANATION:

• Although there is a general perception that unemployment is only found in underdeveloped and developing economies, there is also unemployment in developed countries also and they are of three types.
• Cyclical unemployment is the type of unemployment which is created due to the cyclical changes in markets. As in developed countries, most of the people are involved in tertiary and quaternary activities, they are more affected by changes in market, like growth and recession period, the type of unemployment during this period is called cyclical unemployment.
• Frictional unemployment is the type of unemployment which is generated at the time period between two jobs. The time period in which a person has left previous job and until he gets a new job is period when he remained unemployed and this is called as Frictional unemployment.
• When a person has already so much money that they are not willing to do work and remains unemployed is called Voluntary unemployment.