Employment and Unemployment

The main types of unemployment:

·         Structural – creates a long term issue and it arises from a mismatch between skills of workers and the jobs available

·         Frictional – people who are moving from one job to another because they think it is more efficient

·         Seasonal – make use of casual workers and at certain times of the year firms cut production and release workers

·         Demand – caused by short run in aggregate demand, it rises during the recession and slows down in places

The main measure of unemployment:

·         Labour Force Survey – surveys a large…