ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Recent college graduates who are looking for work may not expect to find a job within a year of graduating due to their lack of experience. However, offers may come in for jobs that are not in their chosen field. When they reject those offers for that reason, they are frictionally unemployed.

Detailed explanation-2: -2. Frictional Unemployment. Frictional unemployment is the result of people voluntarily leaving their jobs. People who’ve resigned from their jobs and graduates seeking their first jobs need time to find employment, leaving them unemployed in the interim.

Detailed explanation-3: -Frictional unemployment examples People who leave their current job to find a better one. People who are entering the workforce for the first time. People who are reentering the workforce.

Detailed explanation-4: -Educated unemployment If a person has received education and is unemployed, he is called an educated unemployed.

Detailed explanation-5: -Frictional unemployment: the natural unemployment people experience when they’re between jobs. Cyclical unemployment: when the economy is doing well, more jobs are created; when it’s in a downturn, many people wind up being laid off.