employment Flashcards
what is frictional unemployment and how can it be resolved
frictional unemployment is unemployment workers experience when moving between jobs
this may be for a prolonged period of time due to occupational and geographical.
allowing easy transition between areas and providing subsidised rail/car access. online work
what is structural unemployment
when an industry declines and a new industry builds up but redundant workers are either occupational or geographical immobile.
supply side policies to improve training schemes and provide education
certain supply side policies such as lowering minimum wage could widen inequality
what is cyclical unemployment
cyclical unemployment is demand deficient employment usually occurring during a recession. free market economists believe this is self correcting whereas Keynesian economists believe employment can get stuck at this optimum
expansionary fiscal and monetary policies can resolve this employment
