Answer: The three types are frictional, structural and cyclical. Frictional unemployment is defined as the normal turnover in the labor market of workers entering and leaving the work force. Structural unemployment is caused by technological change or international competition that causes jobs to disappear. Cyclical unemployment is caused by business cycle fluctuations that change the unemployment rate.
Answer: The three types are frictional, structural and cyclical. Frictional unemployment is defined as the normal turnover in the labor market of workers entering and leaving the work force. Structural unemployment is caused by technological change or international competition that causes jobs to disappear. Cyclical unemployment is caused by business cycle fluctuations that change the unemployment rate.
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