Identify the type of unemployment for the following scenarios:

1) Caroline just graduated from college and is looking for a full-time position with an investment banking firm.
2) Frances is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.
3) Antonio recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.

a) Structural
b) Frictional
c) Cyclical

1) b)Frictional

2) c) Cyclical

3) a) Structural

Explanation:

1) Caroline just graduated from college and is looking for a full-time position with an investment banking firm.

FRICTIONAL.

This is a situation of frictional unemployment, which occurs when there is mobility of labor and workers. It occurs in a natural situation, at the time when individuals are looking for a job.

2) Frances is a real estate agent. House sales in her area have declined because the region has been going through a recession. She has no clients and is currently looking for a new full-time job.

CICLYCAL.  

This is a situation that occurs when the economy of a locality cannot sustain the condition of full employment, it can occur in a situation of slow economic growth or certain setbacks.

3) Antonio recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training.

STRUCTURAL.

Structural unemployment occurs when there is not a sufficient number of jobs in a given sector, which can result from several different variables, such as the incompatibility between the vacancies available and the skills of workers.

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