Frictional unemployment

 

Why is frictional unemployment inevitable? How might the government reduce the amount of frictional unemployment?
Are minimum-wage laws a better explanation for structural unemployment among teenagers or among college graduates? Why?
How do unions affect the natural rate of unemployment?
What claims do advocates of unions make to argue that unions are good for the economy?

 

Sample Solution

Frictional unemployment

Frictional unemployment is a type of unemployment that arises when workers are searching for new jobs or are transitioning from one job to another. Frictional unemployment is inevitable as the economy is continuously growing and changing. Some industries might shut down while others expand. The intermediate transition period where the worker shift from one industry to another or from one region to another will see a growth in frictional unemployment. Government can reduce the amount of frictional unemployment by publicizing the available vacancies in the different industries and also by undertaking training programs in order to enable a smooth and quick transition of workers from one job to the other.

The world we know blazes past us every second. Our closest friends may soon leave forever, others may change, our old homes may be torn down to build a parking lot; yet time still marches on. I feel very strong that with guidance from our past and hope for our future we must live each day to its fullest, make each day more valuable than the previous. Life, love, and friendship are the most precious things on this earth, it is very important for each to find his true love and friends, and live his life with them to its fullest potential.

The past is just that, the past. There is nothing you can do about it except learn from it. In the last year I have spent countless hours contemplating what I could have done different to change the events that took place last October. The death of Jen Elliott, my friend, was the hardest thing I have ever experience in my short life. I would have given anything and everything to go back and change those events, and I still would. However, I have learned that there is nothing I can truly do, except learn from her and comfort her family. What I learned from her is that none of us know how long we will be here. We have to live each day like it is our last, because it may be.

The future, will always be the future. We have to set a goal as to what our futures will be and always keep that goal in sight. We mustn’t, though, let this goal take over our life. There will always be a future and a goal until the last minute. We have to take what we can now; be with our friends and family and care for them.

The past and the future are guideposts, beacons. They are not more. You can’t live in the past, you can’t get there. You can’t live in the future, you haven’t reached it yet. You must live in the present, or you haven’t lived at all.

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