The economy is in a recession and the housing market is in a slump. As a result of this, a real estate firm lays off half of its real estate agents. This is an example of

Question

Quizplus · Accepted Answer

Cyclical unemployment occurs when there's a downturn in the economy, leading to job losses, as seen in the scenario where the real estate firm lays off agents due to a recession and a slump in the housing market.

The Economy Is in a Recession and the Housing Market