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Chapter 21: Q. 7 (page 523)

Many college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?

Short Answer

Expert verified

Frictionally unemployed.

Step by step solution

01

Step1. Introduction

Unemployment refers to the situation when a person who is willing to work and is actively looking for work is not able to get work.

02

Step2. Explanation

Any new entrant to the labor force, or ones looking for a shift in jobs, until they join the job are said to be frictionally unemployed. Hence, the college graduates are frictionally unemployed.

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Most popular questions from this chapter

Is it desirable to eliminate natural unemployment? Why or why not?

Is a decrease in the unemployment rate necessarily a good thing for a nation? Explain.

Whose unemployment rates are commonly higher in the U.S. economy:

a. Whites or nonwhites?

b. The young or the middle-aged?

c. College graduates or high school graduates?

What criteria do the BLS use to count someone as

employed? As unemployed?

Over the long term, has the U.S. unemployment rate generally trended up, trended down, or remained at basically the same level?
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