As firms search for the best employee to fill an opening and the unemployed search for the job that best fits their skills, the economy experiences

Question

Quizplus · Accepted Answer

This scenario describes frictional unemployment, which is the temporary unemployment experienced by workers who are in between jobs or in the process of transitioning to a new job. It is caused by the time that it takes for employers and job seekers to find the best match for their respective needs and qualifications.

As Firms Search for the Best Employee to Fill an Opening