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Tilak has recently moved interstate and has not yet been able to find a new job...

Tilak has recently moved interstate and has not yet been able to find a new job as a financial advisor. Is Tilak frictionally unemployed, structurally unemployed or cyclically unemployed? Explain your answer.

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Answer #1

Tilak is frictionally unemployed. Frictional unemployment occurs when few workers are temporarily out of work while changing jobs. Frictional unemployment, also called search unemployment, and in the current scenario Tilak is in the process of finding new job thus is categorised as frictionally unemployed

Structural unemployment occurs due to decline in demand for production in a specific industry, and consequent disinvestment and decline in its manpower needs. Cyclical unemployment occurs because of the ups and downs in the business cycle over time.

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