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YEAR 10 HASS (MAPPING (DIRECTIONS (South, West, North, east, North-West,…
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YEAR 10 HASS
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UNEMPLOYMENT
DEFINITIONS
UNEMPLOYMENT RATE
share of the labor force that is jobless, expressed as a percentage
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5 TYPES OF UNEMPLOYMENT
STRUCTUAL UNEMPLOYMENT
Structural unemployment is the most serious kind of unemployment because it points to seismic changes in an economy
CYCLICAL UNEMPLOYMENT
Cyclical unemployment occurs during downturns in the business cycle when demand for goods and services declines and companies respond by cutting production and laying off workers.
FRICTIONAL UNEMPLOYMENT
Frictional unemployment is the time a worker spends between jobs Example: a freelance developer whose contract has ended (without another gig waiting)
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