Definition of frictional unemployment in English:
noun[mass noun] Economics
The unemployment which exists in any economy due to people being in the process of moving from one job to another.
- With unemployment at 4.4% of the available workforce, the country is scarcely above what economists term ‘frictional unemployment’.
- If unemployment was previously kept to zero by forcing everyone to keep a job even if they didn't want it, it should rise, even in a madly growing economy, as frictional unemployment is allowed to grow to its natural rate.
- There is likely to be some frictional unemployment even when there is technically full employment, because most people change jobs from time to time.
Definition of frictional unemployment in:
- US English dictionary
What do you find interesting about this word or phrase?
Comments that don't adhere to our Community Guidelines may be moderated or removed.
Most popular in the US
Most popular in the UK
Most popular in Canada
Most popular in Australia
Most popular in Malaysia
Most popular in Pakistan