Assume Smith is temporarily unemployed because he has voluntarily quit his job with company A and will begin a better job next week with company B. Smith will be considered as:

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Smith is temporarily unemployed because he has left his previous job voluntarily and will start a new job soon. This type of unemployment is known as frictional unemployment, which is caused by workers moving between jobs or entering the workforce for the first time. Smith is not cyclically unemployed because he is not unemployed due to economic downturns or business cycles. He is not secularly unemployed because the reason for his unemployment is not due to a long-term decline in demand for his skills. He is not considered unemployed in this situation because he has voluntarily decided to leave his previous job and has another job lined up.

Assume Smith Is Temporarily Unemployed Because He Has Voluntarily Quit