Principles of Macroeconomics / Unit 5 MAC 0415 short lesson, about 20 seconds
Frictional Unemployment
Captions available
The idea
Frictional unemployment is the time it takes workers and employers to find each other. It exists even when the number of jobs matches the number of workers.
In practice
A graduate searching for three months is frictionally unemployed.
Where people slip
It is not a failure. A good match takes time, and rushing everyone into the first job offered would waste skills.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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