Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of

Name: Mike has just been laid off from his construction job because consumers are not purchasing new homes because of the recession. Mike would be considered to be part of
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Question

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Cyclical unemployment occurs when there is a lack of demand for goods and services in the economy, leading to job losses, such as during a recession.

Mike Has Just Been Laid Off from His Construction Job