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Assignment One
Labour Economics (Economics 3341)
Winter 2020
Issued: February 4th, 2020
Answer each of the following questions in full sentences. Use a graph if it helps with your
explanation.
1. Define and explain Frictional, Structural and Cyclical unemployment. What is NAIRU?
Frictional unemployment is a type of unemployment primarily caused by worker looking for
jobs and companies looking for workers but in a healthy economy. This means that workers feel
comfortable to leave and look for jobs depending on their situations. Similarly, employers are
also looking for employee because of the growing economy.
Structural unemployment is a chronic long-term unemployment that occurs when a country is
not in a recession. In this type of unemployment, the numbe...