Match each form of unemployment with an example. Note that every item may not have a match.
Frictional unemployment
Cyclical unemployment
Structural unemployment
A retiree. After a successful career in real estate, she now lives off her retirement savings and Social Security.
An unemployed paper mill worker. The local paper mill shut down due to lack of demand for paper products in a digital age.
Correct label:
Structural unemployment
An unemployed banker during a recession. The banker would be hired back once the economy began growing normally again.
Correct label:
Cyclical unemployment
An unemployed stockbroker who is taking some time off before looking for a new job.
An unemployed cashier. A small clothing store shut down due to its customers buying clothes from a new clothing store nearby.
Correct label:
Frictional unemployment