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Cyclical Unemployment
Cyclical unemployment is the component of overall unemployment that results from economic recessions or expansions, influenced by the business cycle.
Economy
An area or system in which goods and services are produced, distributed, and consumed by various agents, encompassing local to global scales.
Recession
A significant decline in economic activity spread across the economy, lasting more than a few months, typically visible in real GDP, real income, employment, industrial production, and wholesale-retail sales.
Unemployment Compensation Benefits
Payments made to individuals who are temporarily out of work, providing financial support during unemployment.
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