Business, 18.03.2020 00:17 meowmeowcow
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics.
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
Unemployment Type
Structural
Frictional
Cyclical
A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Poornima.
Hubert recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.
Kate just moved with her husband to Portland, Oregon. She's looking for a job as a paralegal.
The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
Unemployment Type
Rate
(Percent)
Frictional 1.1
Cyclical 0.0
Structural 3.9
Total unemployment 5.0
True or False: This economy is currently at its natural rate of unemployment.
True
False
Answers: 3
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The three people described in the following table are categorized as unemployed by the Bureau of Lab...
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