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Cyclical Unemployment
Unemployment directly related to cycles of economic upturn and downturn.
Structural Unemployment
A form of unemployment caused by a mismatch between the jobs available and the skill levels of the unemployed, often due to technological changes or shifts in the economy.
Frictional Unemployment
Short-term unemployment occurring when individuals are between jobs or are seeking their first jobs.
Prosperity Phase
A period in the business cycle characterized by economic growth, high employment, and rising incomes.
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