What advice would you give someone who is structurally unemployed? A. Someone wh

Question

What advice would you give someone who is structurally unemployed? A. Someone who is structurally unemployed should wait until the recession is over or swich to a part-time job. B. Someone who is structurally unemployed has to acquire skills necessary to switch industries. C. Someone who is structurally unemployed has to find an employer who needs his/her specific skills in the industry he/she has already worked in. D. Someone who is structurally unemployed has no chances to find a job and should leave the workforce.

Explanation / Answer

There are three types of unemployment: frictional unemployment, structural unemployment, and cyclical unemployment. The frictional unemployment arises due to imperfect information between worker and employer and due to the transition of workers between jobs. The structural unemployment occurs due to structural changes in the firm or company. This arises due to the fact that the available workers are not fit for the current job openings. The cyclical unemployment arises due to cyclical changes in the economy or recession and lack of labor demand.

Therefore, the correct option is: (B)

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