Типы безработицы

Frictional unemployment occurs when a person is out of one job is searching for another. It generally requires some time before a person can get the next job. During this time he is frictionally unemployed. The problem of frictional unemployment is minimized with the development of efficient labor markets. The time period of shifting from one job to another is almost nil. However, imperfect information may aggravate the problem of frictional unemployment. The more developed an economy is, higher is the probability of getting a job faster and lower is the probability of frictional unemployment.