One explanation for long-run unemployment is that it takes time for workers to search for the jobs that are best suited for them.

Question

Quizplus · Accepted Answer

This explanation is related to the concept of frictional unemployment, which occurs when workers are between jobs or are searching for new jobs that better match their skills, interests, or location preferences. This type of unemployment is considered a natural and inevitable part of a dynamic economy.

One Explanation for Long-Run Unemployment Is That It Takes Time