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

Question

Quizplus · Accepted Answer

Mike's situation is due to the recession and a lack of demand for new homes, which is characteristic of cyclical unemployment. Structural unemployment usually results from a mismatch between workers' skills and available jobs, frictional unemployment is due to workers searching for new jobs or transitioning between jobs, and seasonal unemployment is caused by time-limited seasonal work (such as holiday retail positions).

Mike Has Just Been Laid Off from His Construction Job