In the country of Leducistan, a mass migration of refugees found solace within its borders and all of them sought work. What will happen to the country's unemployment rate and labor force participation rates?
There can be four kinds of unemployment:
Frictional unemployment: This is simply the time it takes a company to match a qualified job applicant with the right position. It also includes people who are between jobs. It is simply the time it takes for a worker, having lost his job, to register at the job agencies, read the adverts in the papers or on the ...
This explains the four kinds of unemployment