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What is the difference between Cyclical, Frictional and Structural unemployment? If you were advising the government...

What is the difference between Cyclical, Frictional and Structural unemployment? If you were advising the government which would you consider to be of greatest concern (explain why)?

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Answer #1

Cyclical unemployment is the type of unemployment caused by the business cycle. For example, when someone loses a job in a recession, the person becomes cyclically unemployed.

Frictional unemployment takes place when someone becomes temporarily unemployed due to switching between jobs.

In structural unemployment, an unemployment person does not have the required skills for the available jobs.

I think structural unemployment is of the greatest concern because both the other types (cyclical and frictional) are of short-term in nature. In structural unemployment, a section of the workforce does not have skills for the jobs available. Therefore, this portion of the workforce needs to reskilled before they can be employed again.

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