1. To be considered Unemployed….. 1. must be 16 yr old of age or older 2. must have been currently looking for employment in past 4 weeks 3. still have not found a job

2. Types of Unemployment  Structural  Frictional  Cyclical  Seasonal

3. Structural Unemployment  when workers have permanently lost their jobs in a certain industry. i.e ; Miners replaced by machines i.e; Advance in technology make the assembly line worker’s job obsolete i.e; people who have skills that are not needed in the market

4. Frictional Unemployment  occurs when people move between jobs, careers, locations, or just starting out after graduation i.e; An individual refuses to work for minimum wage i.e; An editor leaves her job in NY to look for a new job in Chicago i.e; unemployed college graduate is looking for his first job

5. Cyclical Unemployment  people who are not working because firms do not need their labor due to a lack of demand or a downturn in the business cycle. i.e; a computer programmer is laid off because of the recession i.e; slumping sales lead to the cashier being laid off

6. Seasonal Unemployment  is when people are out of work after the off season i.e; ski instructors i.e; golf instructors

7.  Full employment = the natural level of unemployment  Natural level of unemployment includes…. both structural & frictional

8. Trapped in Unemployment video  High Unemployment.. Lack of demand… the real news