Essay

The term unemployment signifies to be without a job but vigorously looking for one. Throughout the years the unemployment rate has fluctuated, this was caused by the changes in aggregate demand for the final product. There are three types of unemployment, frictional, structural, and deficient demand. These types of unemployment and the unemployment rate in general have varying effects on gender and races.

Unemployment causes problems for the economy with loses to production, but it also provides benefits, from workers who are able to upgrade their positions and salaries. Frictional unemployment is caused by the normal turnover in the labor market ...