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 Paolo 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. Automobile demand has fallen during a recent recession, and Amy has been laid off from her job on the assembly line. Sharon just graduated from college and is looking for a full-time position with an investment banking firm. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
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 Paolo 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. Automobile demand has fallen during a recent recession, and Amy has been laid off from her job on the assembly line. Sharon just graduated from college and is looking for a full-time position with an investment banking firm. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy.
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 7P
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