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 unemployment is due to a downturn in the economy, which is a characteristic of cyclical unemployment. Cyclical unemployment occurs when there is not enough demand for goods and services in the economy, leading to job losses.

Mike Has Just Been Laid Off from His Construction Job