NOTE
Unemployment
English translation of the original VNote “Unemployment”, preserving its structure and content.
This is a historical learning note and may contain outdated or incomplete understanding.
1. Classification of Unemployment
1.1. Natural Unemployment
1.1.1. Frictional Unemployment
The unemployment that can arise because people give up their original jobs and then need some time to find new work.
1.1.2. Structural Unemployment
Unemployment caused by the results of market competition or changes in production technology. It usually occurs because the labor market is not balanced: some industries are expanding while others are declining, causing some workers to become unemployed.
Structural unemployment usually lasts longer than frictional unemployment because unemployed people need retraining or relocation before they can find work.
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