The layoff of workers in virtually all industries during the 1982 recession is an example of the classification of workers as

Question

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During the 1982 recession, workers were laid off due to a lack of demand for goods and services in the economy. This type of unemployment is known as cyclical unemployment, which is caused by fluctuations in the business cycle. It is not voluntary, structural or frictional unemployment, which are caused by factors such as individual choices, changes in technology or mismatches between labor supply and demand respectively. Therefore, the best choice in this case is (C) cyclically unemployed.

The Layoff of Workers in Virtually All Industries During the 1982