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3. Types of unemployment 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. Frictional Unemployment Type Structural Cyclical Carlos left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Deborah just graduated from college and is looking for a full-time position with an investment banking firm. 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 Janet. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.2 Cyclical 0.0 Structural 1.0 Total unemployment 4.2 True or False: This economy is currently at its natural rate of unemployment. True False

3. Types of unemployment 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. Frictional Unemployment Type Structural Cyclical Carlos left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Deborah just graduated from college and is looking for a full-time position with an investment banking firm. 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 Janet. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.2 Cyclical 0.0 Structural 1.0 Total unemployment 4.2 True or False: This economy is currently at its natural rate of unemployment. True False

Principles of Economics 2e
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
Section: Chapter Questions
Problem 16RQ: Assess whether the following would be counted as unemployed in the Current Employment Statistics...
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3. Types of unemployment 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. Frictional Unemployment Type Structural Cyclical Carlos left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Deborah just graduated from college and is looking for a full-time position with an investment banking firm. 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 Janet. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.2 Cyclical 0.0 Structural 1.0 Total unemployment 4.2 True or False: This economy is currently at its natural rate of unemployment. True False
Transcribed Image Text:3. Types of unemployment 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. Frictional Unemployment Type Structural Cyclical Carlos left his job as a plumber when his wife took a position in another region. The quantity of plumbing services demanded is considerably lower in the new region, in part because of high union-negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of plumbing jobs. Deborah just graduated from college and is looking for a full-time position with an investment banking firm. 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 Janet. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.2 Cyclical 0.0 Structural 1.0 Total unemployment 4.2 True or False: This economy is currently at its natural rate of unemployment. True False
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