30/01/2026
Unemployment
β individuals are of working age,
β capable of working, and
β actively seeking employment but
unable to find a job.
Types
1. Frictional unemployment: people moving between jobs.
2. Cyclical unemployment: during business cycle downturn or recession. workers are laid off by their employers.
3. Structural unemployment: a mismatch between a worker's skills and the job requirements. or entering the labour force for the first time.
Choose your careers wisely!
Voluntary unemployment: individuals are not willing to work.