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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

Is the increase in labor force participation rates among women better thought of as causing an increase in cyclical unemployment or an increase in the natural rate of unemployment? Why?

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.

The U.S. unemployment rate increased from 4.6%

in July 2001 to 5.9% by June 2002. Without studying the subject in any detail, would you expect that a change of this kind is more likely to be due to cyclical unemployment or a change in the natural rate of unemployment? Why?

If you are out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greeter at Wal-Mart are you considered employed or not in the labor force?

Are U.S. unemployment rates typically higher, lower, or about the same as unemployment rates in other high-income countries?
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