Jose graduated from college in June 2018. In July 2018, he was surveyed by his country's Bureau of Labor Statistics and was counted as unemployed. Also in July 2018, he applied for a job with Goldman Sachs and started work on August 1, 2018. What type of unemployment does Jose represent?

Question

Quizplus · Accepted Answer

Jose represents frictional unemployment, which occurs when individuals are temporarily unemployed while transitioning from one job to another or entering the workforce for the first time, as in Jose's case after graduating from college.

Jose Graduated from College in June 2018