3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Diego area. Maria is a real estate agent. House sales in her area have declined because the region has been going. through a recession. She has no clients and is currently looking for a new full-time job. Edison left his job as an electrician when his wife took a position in another region. The quantity of electrical cancer nded is con Structural Frictional Cyclical
3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Diego area. Maria is a real estate agent. House sales in her area have declined because the region has been going. through a recession. She has no clients and is currently looking for a new full-time job. Edison left his job as an electrician when his wife took a position in another region. The quantity of electrical cancer nded is con Structural Frictional Cyclical
Chapter1: Making Economics Decisions
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Transcribed Image Text:3. Types of unemployment
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics.
Identify each person in the table as structurally, frictionally, or cyclically unemployed.
Unemployment Type
Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently
interviewing with several prestigious hospitals in the San Diego area.
Maria is a real estate agent. House sales in her area have declined because the region has been going
through a recession. She has no clients and is currently looking for a new full-time job.
Edison left his job as an electrician when his wife took a position in another region. The quantity of
electrical services demanded is considerably lower in the new region, in part because of high union-
negotiated wages. He would like to work at the high union wage but remains unemployed due to a lack of
electrician jobs.
The following table presents data on frictional, cyclical, structural, and total unemployment for an economy.
Rate
Unemployment Type (Percent)
3.1
0.0
1.0
Frictional
Cyclical
Structural
Total unemployment
4.1
Structural Frictional
Q
Cyclical
O

Transcribed Image Text:Unemployment Type
Frictional
Cyclical
Structural
Total unemployment
True
Rate
(Percent)
3.1
0.0
1.0
True or False: This economy is currently at its natural rate of unemployment.
False
4.1
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