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Chapter 21: Q 26. (page 524)

What is frictional unemployment? Give examples of frictional unemployment.

Short Answer

Expert verified

Frictional unemployment is a type of unemployment.

Step by step solution

01

Step 1. Definition

Frictional unemployment is the period when a worker is chosen to leave their job in search of the new one and the workers join the workforce for the first time.

02

Step. Examples

These are the examples of frictional unemployment:

1. students: when students completed their studies and look for a job, in this interim period they come under the purview of frictional unemployment.

2. maternity: when working women opt for maternity leave to take care of the child, this short period before returning to the job is frictional unemployment.

3. dissatisfied workers: many employees are fed up with their job may be due to the nature of work or any other reason. Finally, they leave the job and look for a more satisfying job, this period of finding the job they are called frictionally unemployed.

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Most popular questions from this chapter

Do you think it is rational for workers to prefer sticky wages to wage cuts when the consequence of sticky wages is unemployment for some workers? Why or why not? How do the reasons for sticky wages explained in this section apply to your argument?

Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?

If many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time.

Under what condition would a decrease in

unemployment be bad for the economy?

Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say 10%, versus low, say 4%? Explain.
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