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What are the different types of unemployment and how do they affect the economy? What is inflation? What is deflation? What is recession? What are the problems of the current US economy?

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What are the different types of unemployment and how do they affect the economy?

There are different types of unemployment. There is cyclical unemployment where there is not enough demand in the economy to provide jobs. In this case there is unemployment in the economy as the wages are sticky. Second there is frictional unemployment which the time period between jobs when the worker is searching for. This is transitional unemployment. This is good for the economy because the workers actually seek to match their skills with the jobs available. The third is structural unemployment ...

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  • MBA, Eastern Institute for Integrated Learning in Management
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