unemplyment types

Question 1

frictional unemploymen

Answer 1

Unemployment caused by the time it takes for people to find a new job or transition between jobs.
Also called search-unemployment,
Voluntary & Short-term (less than 3 months)

Question 2

how many ppl changed thier jobs - frictional

Answer 2

1.3 million in last finaical yr

Question 3

causes of frictional unemplyment

Answer 3

people unhappy in their current position seeking better pay/conditions.
People seeking a job closer to their house.
People re-joining the workforce after taking time off.
School leavers trying to find their first job.

Question 4

structural unemplyment def

Answer 4

Unemployment resulting from a mismatch between workers’ skills and the skills needed for available jobs, often due to technological changes or shifts in the economy.

Question 5

strucutal unemployment in real life

Answer 5

The structure of the Australian economy has shifted over time away from agriculture and manufacturing towards services.

Structural change has tended to occur in waves, driven by a range of factors including rising demand for services, the industrialisation of east Asia, economic reform and technology changes*

Question 6

egs of strucutal unempylemt un aus

Answer 6

ABS: due to Covid-19: more than 40% of Australians worked from home during 2022-2023.

Australia has the highest per-capita penetration of Solar energy: 1 in 3 homes now have solar panels.

Electric vehicles in Australia were roughly 130,000 in 2023.

The rise of Self-service checkouts instead of cashiers at Woolworths/Kmart & others

Question 7

cyclical unemplyment

Answer 7

Unemployment caused by economic downturns or recessions when there is a lack of demand for goods and services, leading to a reduction in workforce.

Question 8

other types of unemployment

Answer 8

seasonal unemploymet