3.2: Types of Unemployment
Frictional unemployment, which is the least severe of the three types, occurs as a result of individuals' movements between jobs. Structural unemployment, which is the most severe of the three types, typically requires workers to seek retraining or additional education as a consequence of structural changes in the economy. Cyclical unemployment is the result of downturns in the business cycle, economic contractions, or recessions.
Read this section and attempt the "Try It" exercises. This reading serves as an introduction to unemployment and provides a foundation for deeper study later in this course. This reading also covers the three types of unemployment: frictional unemployment, structural unemployment, and cyclical unemployment.
As you saw in the previous reading, unemployment can be measured in many ways. This reading will provide a few additional measures of unemployment that were not discussed in the textbook. In the United States, we use six measures of unemployment. The table and numbers in this resource come from the Bureau of Labor Statistics, the federal agency that monitors and reports on unemployment. After you read this resource, you will confirm your understanding of the BLS unemployment categories in a quiz. You will need to reference the figures on this page as you take the quiz, so be sure to come back to it.
Please attempt this quiz as a way to check your understanding of the six measures of unemployment used by the Bureau of Labor Statistics.
Notes:- There is no minimum required score to pass this assessment, and your score on this assessment will not factor into your overall course grade.
- This assessment is designed to prepare you for the Final Exam that will determine your course grade. Upon submission of your assessment you will be provided with the correct answers and/or other feedback meant to help in your understanding of the topics being assessed.
- You may attempt this assessment as many times as needed, whenever you would like.