What is the difference between structural unemployment and friction unemployment?

Asked on 28.11.2018 in All Questions.
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(Top Tutor) Studyfaq Tutor
It is well documented the nature and severity of the pervasive unemployment worldwide, both in developing and developed countries. The general knowledge is that there are two types of unemployment, namely structural unemployment and friction unemployment. The former one refers to the kind of situation that the graduate students do not match the type of those demanded by the company; the latter one refers to the unemployment that results in the time spent in finding a suitable job, which is often the consequence of indusial transform. Analysts agree on the idea that the structural unemployment is more dangerous in the sense that the unemployed are thought to...
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