Labour economics

Question 1

what is cyclical unemployment

Answer 1

unemployment that occurs when the economy’s business cycle fluctuates causing a lack of jobs

Question 2

what is seasonal unemployment

Answer 2

temporary unemployment that occurs when demand for labour fluctuates in seasons

Question 3

what is structural unemployment

Answer 3

long term and involuntary unemployment when there is a mismatch between the skills of available workers and the skills required from employers

Question 4

what is frictional unemployment

Answer 4

short term unemployment that occurs when people are between jobs

Question 5

what is worker discrimination

Answer 5

workers of identical ability are paid different wages or are discriminated against because of race, age, sex, etc