The major component of the 9.5 percent unemployment rate in 1981-82 was most likely ________ unemployment.

Question

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The high unemployment rate in 1981-82 was primarily due to cyclical unemployment, which is caused by a decrease in aggregate demand during a recession. This leads to a decrease in the demand for labor, resulting in layoffs and increased unemployment. Frictional unemployment is caused by people transitioning between jobs or entering the workforce, while structural unemployment is caused by a mismatch between available jobs and available workers with the necessary skills. Global unemployment is influenced by factors such as trade and immigration policies. Inflationary unemployment is not a recognized type of unemployment.

The Major Component of the 9