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Chapter 8: Q.7 (page 213)

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

They are counted as frictionally unemployed.

Step by step solution

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01

Step 1. 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

Step 2. Explanation

Frictional unemployment refers to the situation when people are volunatrily unemployed because of transitioning from one job to another. New workers joining the labor force are old workers looking for new jobs while unemployed are included in frictionally unemployed.

So, when college graduates start looking for jobs, they are considered frictionally unemployed.

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Most popular questions from this chapter

If you are out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greeter at Wal-Mart are you considered employed or not in the labor force?

What forces create the natural rate of

unemployment for an economy?

Is the higher unemployment rates for minority workers necessarily an indication of discrimination? What could be some other reasons for the higher unemployment rate?

Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?

Is it desirable to eliminate natural unemployment?

Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
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