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The development of a nationwide computerized job bank listing of all job openings would be most likely to reduce cyclical unemployment.
What is seasonal unemployment?
- When the abilities that people in the economy have to provide and the skills that employers need from employees do not match, structural unemployment results.
What is frictional unemployment?
- The time between quitting a job voluntarily and finding another is known as the frictional unemployment period.
What is natural unemployment?
- The lowest rate of unemployment brought on by actual or voluntary economic forces is known as natural unemployment, or the natural rate of unemployment.
- The number of persons experiencing natural unemployment indicates those who are jobless as a result of the structure of the labor force, such as those who have been displaced by technology or those who lack the necessary skills to find employment.
What is cyclical unemployment?
- The portion of overall unemployment that is specifically caused by cycles of economic expansion and contraction is known as cyclical unemployment.
- Typically, unemployment increases during economic downturns and decreases during boom times.
Therefore, the development of a nationwide computerized job bank listing of all job openings would be most likely to reduce cyclical unemployment.
Know more about unemployment here:
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