Mr. Campbell asked us to create 4 scenarios for our life to describe the 4 types of unemployment.
Structural Unemployment- I use to weld car frames together. Because of the cost to train me, they bought a machine that requires no training and will pay for itself sooner or later.
Frictional Employment- While I was in college I worked at Shop Rite. Now the I have a degree in physics, I can go to work designing roller coasters for Six Flags Great Adventure.
Cyclical Unemployment- I worked in the Labor Union, and because of the recession I am now unemployed.
Seasonal Unemployment- I worked at somebodies house selling Christmas trees, but because its not Christmas season anymore I am unemployed until next year.