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Unemployment!

Unemployment!. LO: Students will understand the four phases of Unemployment, Cyclical, Structural, Seasonal and Frictional. Frictional . People who take time to find a job or people who are looking for work.

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Unemployment!

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  1. Unemployment! LO: Students will understand the four phases of Unemployment, Cyclical, Structural, Seasonal and Frictional

  2. Frictional • People who take time to find a job or people who are looking for work. • People are expected to be found in this category when there is a large and diverse economy.

  3. Seasonal Unemployment • Industries slow or shut down for a season to make shifts in their production schedule • Therefore, people get let go because they are not in demand • The government does not interfere • Give me five examples! Each Table needs one!

  4. Five Factors of Structural • Development of new technology Ex: • Discovery of new resources Ex: • Globalization Ex: • Lack of Education Ex: • Change in Demand Ex:

  5. Cyclical Unemployment • Recessions, downturns in the business cycle, people get laid off due to slowdown in production • Usually coincides with a dip in the business cycle

  6. Structural • Workers skills do not match the jobs that are available • The American economy has changed over the centuries how? What jobs have changed?

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