The Main Types of Unemployment (HSC SSCE Economics): Flashcards
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Structural unemployment cause
Structural unemployment cause
Fundamental economic changes, tech advances, demand shifts
Cyclical unemployment link
Cyclical unemployment link
Economic cycle; rises in recessions, falls during growth periods
Frictional unemployment definition
Frictional unemployment definition
Workers between jobs, not yet started new position
Seasonal unemployment characteristic
Seasonal unemployment characteristic
Occurs at predictable and regular times throughout the year
Hidden unemployment definition
Hidden unemployment definition
Want to work but not in official stats, not actively seeking
Underemployment definition
Underemployment definition
Employed fewer than 35 hrs/week but want more hours
Long-term unemployment duration
Long-term unemployment duration
12 months or longer without work
Hard-core unemployment definition
Hard-core unemployment definition
Unemployed so long, considered effectively unemployable
Australia's long-term unemployment main cause
Australia's long-term unemployment main cause
Structural factors
Australia: underemployed vs unemployed workers
Australia: underemployed vs unemployed workers
More underemployed than unemployed workers