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3 Tutorials that teach Assessing Costs of Unemployment--Labor Economics
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Assessing Costs of Unemployment--Labor Economics

Assessing Costs of Unemployment--Labor Economics

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Author: Catherine Barry
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This lesson will explain Assessing Costs of Unemployment--Labor Economics

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Terms to Know
Cyclical Unemployment

Unemployment that follows the business cycle; falls as the economy expands and increases as the economy slows.

Frictional Unemployment

Natural separation from employment; underlies the "natural rate of unemployment." Employees looking for positions that are available.

Natural Unemployment

The unemployment rate consistent with full employment; typically considered to be 5% and attributed to frictional unemployment.

Structural Unemployment

Unemployment resulting from changes in the structure of the economy.