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Unemployment - European labour market:
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Europe > Business and Economy > Jobs and Employment > Unemployment - European labour market >
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Types of unemployment
Frictional unemployment
Frictional unemployment is inevitably a result of the process of job seeking. It will exist under conditions of "full-employment" conditions, but it is not clear what proportion of total unemployment can be called frictional. Frictional unemployment arises because of time lags in the functioning of labour markets, which are inevitable in a free-market economy; there are search delays involved, for example in moving from one job to another.
Structural unemployment
Structural unemployment is unemployment arising from changes in demand or technology, which lead to an oversupply of particularly skilled or in particular locations. Structural unemployment does not result from an overall deficiency of demand and therefore cannot be cured by reflation, but only by retraining or relocation of the affected work force. Structural unemployment is distinct from frictional unemployment, which is essentially a short-term phenomenon.
Cyclical unemployment
Cyclical unemployment is directly related to swings in the business cycle. During a recession many people put off buying certain durable goods resulting in durable goods industries laying off workers until the economy recovers.
Technological change
Technological change is an increase in the level of output resulting from automation and computerised methods of production. Apart from increasing output, technological change can affect the ratio of capital to labour used in a factory. If the labour force is reduced there is technological unemployment in that industry.
Seasonal unemployment
Seasonal unemployment results from changes in the demand for certain products. For example in the construction industry carpenters and builders have less work during the winter and employment in the tourism increases during the holiday season.
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