In 2013,Caterpillar laid off employees.The employees who were laid off due to the business cycle would be considered

Name: In 2013,Caterpillar laid off employees.The employees who were laid off due to the business cycle would be considered
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Caterpillar laying off employees in response to the business cycle is an example of cyclical unemployment, which occurs when there is a downturn in the business cycle and businesses reduce their workforce to cut costs.

In 2013,Caterpillar Laid Off Employees