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Chapter 21: Q. 7 (page 523)

Many college students graduate from college before they have found a job. When graduates begin to look for a job, they are counted as what category of unemployed?

Short Answer

Expert verified

Frictionally unemployed.

Step by step solution

01

Step1. Introduction

Unemployment refers to the situation when a person who is willing to work and is actively looking for work is not able to get work.

02

Step2. Explanation

Any new entrant to the labor force, or ones looking for a shift in jobs, until they join the job are said to be frictionally unemployed. Hence, the college graduates are frictionally unemployed.

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Most popular questions from this chapter

Whose unemployment rates are commonly higher in the U.S. economy:

a. Whites or nonwhites?

b. The young or the middle-aged?

c. College graduates or high school graduates?

Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are “not in the labor force?” What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages.

Are all adults who do not hold jobs counted as unemployed?

What is frictional unemployment? Give examples of frictional unemployment.

What are some of the problems with using the unemployment rate as an accurate measure of overall joblessness?
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