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1. Frictional unemployment

This is unemployment caused by the time people take to move between jobs, e.g. graduates or people changing jobs. There will always be some frictional unemployment in an economy because the information isn’t perfect and it takes time to find work.

2. Structural unemployment

This occurs due to a mismatch of skills in the labour market it can be caused by:

Occupational immobilities. This refers to the difficulties in learning new skills applicable to a new industry, and technological change, e.g. an unemployed farmer may struggle to find work in high tech industries.
Geographical immobilities. This refers to the difficulty in moving regions to get a job, e.g. there may be jobs in London, but it could be difficult to find suitable accommodation or schooling for their children.
Technological change. If there is the development of labour-saving technology in some industries, then there will be a fall in demand for some types of labour which have been replaced by machines.
Structural change in the economy. The decline of the coal mines due to a lack of competitiveness meant that many coal miners were unemployed. However, they found it difficult to get jobs in new industries such as computers.
adioabiola

The two possible reasons of unemployment are:

  • The lack of adequate education and skills
  • Increase in population

What is unemployment?

The term unemployment can be defined as the situation in which a willing and able individual in a particular country at a time is unable to get suitable employment.

What is unemployment rate?

Unemployment rate is the number of unemployed citizens divided by the Labor force all times 100.

Unemployment rate = Total unemployed person ÷ Total labor force × 100

Other reasons of unemployment:

  • Low level of productivity
  • Inappropriate technology

Learn more about unemployment:

https://brainly.com/question/13280244

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