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Chapter 8: Q.7 (page 213)

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

They are counted as frictionally unemployed.

Step by step solution

01

Step 1. 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

Step 2. Explanation

Frictional unemployment refers to the situation when people are volunatrily unemployed because of transitioning from one job to another. New workers joining the labor force are old workers looking for new jobs while unemployed are included in frictionally unemployed.

So, when college graduates start looking for jobs, they are considered frictionally unemployed.

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Most popular questions from this chapter

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

What type of unemployment (cyclical, frictional,

or structural) applies to each of the following:

a. landscapers laid off in response to a drop in new housing construction during a recession.

b. coal miners laid off due to EPA regulations that shut down coal fired power

c. a financial analyst who quits his/her job in

Chicago and is pursing similar work in Arizona

d. printers laid off due to drop in demand for printed catalogues and flyers as firms go the internet to promote an advertise their products.

e. factory workers in the U.S. laid off as the plants shut down and move to Mexico and Ireland.

What happens to the unemployment rate when unemployed workers are reclassified as discouraged workers?

Would you expect hidden unemployment to be higher, lower, or about the same when the unemployment rate is high, say 10%, versus low, say 4%? Explain.

Under what condition would a decrease in

unemployment be bad for the economy?
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