Frictional unemployment is always present in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment, which means that increases or decreases in unemployment are normally under-represented in the simple statistics.
32.
Frictional unemployment is always present in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment, which means that increases or decreases in unemployment are normally under-represented in the simple statistics.
33.
There will never be a moment when everybody in the economy has a job at the same time; there will therefore always be some of what economists have come to call frictional unemployment _ estimated to be at least 2 percent of the work force.
