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Types of Unemployment - Coggle Diagram
Types of Unemployment
Structural unemployment
mismatch of demand and supply on the job market
long-term unemployment
people do not have the knowledge for participating in the job market
lack of basis knowledge
e. g.: can't use a computer
Regional unemployment
specific regions are structurally weak
do not offer many jobs
political instability
high corporate tax rates
unemployment rates are often quit high
Cyclical unemployment
can have short-term effects on the local economy
often is just temporary
large swings in unemployment due to adverse econimic conditions
in the long-term the economy is likely to recover
Seasonal unemployment
businesses make the majority of their sales in only a few months of the year
e. g.: selling christmas goods, ice cream shop, sking + hiking
seasonal unemployment is a big issue --> do not need their workers anymore when the season is over
Frictional unemployment
students after finishing college
lack of employment due to factors
Voluntary unemployment
want to enjoy their leisure time
do not want to work at all