1 Answer | Add Yours
Of the people in the link, only person #7 is frictionally unemployed. Person #5 would be if they were not working part-time. Person #2 could be, depending on their reason for leaving the cod fishing industry.
Frictional unemployment occurs in three main ways:
- When a person is just entering the labor force and is looking for their first job.
- When a person quits a job to look for one they like better.
- When a person is fired for not doing the job well (as opposed to being laid off for economic reasons).
Person #7 is just entering the labor force and is therefore structurally unemployed. Person #5 is looking for a job they like better, but is still working part-time. Therefore, that person does not count as unemployed; they are underemployed. Person #2 could be frictionally unemployed if they left cod fishing to find a job they liked better. However, they will not count anyway because they have stopped looking for work and are therefore not in the labor force.
We’ve answered 319,199 questions. We can answer yours, too.Ask a question