ECO 372 Week 1-5 Discussion Question 3 - 88487

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What are the different types of unemployment? How do they affect the economy in terms of growth, labor force, and price of labor? Cite specific examples to support your response. What are the different types of unemployment? There are four types of unemployment: Structural unemployment – depends on the social needs of the economy and dynamic changes in the economy. Frictional Unemployment – caused because unemployed workers may not always take the first job they are offered because of wages and the necessary skills needed...
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 What are the different types of unemployment? How do they affect the economy in terms of growth, labor force, and price of labor? Cite

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