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Frictional vs Structural Unemployment: Key Differences, Real-World Examples, and Economic Impact Explained
In every economy, unemployment is a natural and often unavoidable part of the job market. However, not all unemployment is created equal. Two distinct types—frictional and structural unemployment—have very different causes, durations, and implications. While both involve people being out of work, the reasons behind each tell a unique story about the job market and…