Description
Compare and contrast the three types of
unemployment. Discuss how these three types of unemployment demystify a
common myth that “unemployment would not exist if the economy were
operating efficiently.” At least 300 words, one reference, single spaced. No title page needed.
Explanation & Answer
Attached.
Three unemployment types - Outline
Thesis Statement: Unemployment is a technical phenomenon whose existence may be
inevitable at different times regardless the economic, operational efficiency as well as
effectiveness since even those in employment would be considered unemployed under various
circumstances.
1. Structural unemployment
2. Cyclical employment
3. Frictional unemployment
Running head: THREE UNEMPLOYMENT TYPES
Three unemployment types
Name
Institution
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THREE UNEMPLOYMENT TYPES
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Three unemployment types
According to the International Labor Organization, unemployment rate provides the most
reliable metric for a nations inability to fully utilize the available labor supply at any given time
(ILO, n.d.). As such, unemployment presents the economy’s inability to offer employment
opportunities to the people searching the same and willing to work. Unemployment may also be
explained as the systemic inability of an economy to fully utilize the available labor pool despite
any flexibility in labor markets (Tsaliki...
