Examples of frictional unemployment in the following topics:
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- Employment level, as defined by cyclical, structural and frictional unemployment, is one of the most important economic indicators.
- One kind of frictional unemployment is called wait unemployment: it refers to the effects of the existence of some sectors where employed workers are paid more than the market-clearing equilibrium wage.
- Only some frictional unemployment would exist, where workers are temporarily searching for new jobs.
- Frictional unemployment is the time period between jobs when a worker is searching for or transitioning from one job to another.
- Frictional unemployment is always present in an economy, so the level of involuntary unemployment is properly the unemployment rate minus the rate of frictional unemployment.
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- By using fatter pipes less friction is created when fluid moves through them.
- By increasing the diameter of a pipe by 50%, friction can be reduced by 86%.
- Unfortunately, each bend and turn, as well as the number of valves added, increases friction, which requires a larger pump and increases the amount of pipe needed.
- Conversely, the straighter the pipe, the fewer pipes are needed and the less friction is created.
- Furthermore, by using plastic or epoxy-coated steel pipes, friction can be reduced by another 40%, resulting in a proportionate savings in pumping expenses that can eliminate up to 95% of the costs of pumping.
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- Water and wastewater pumps consume over 50 billion kilowatt-hours of electricity in the USA every year (about $4 billion worth of power) and most of the energy they consume is used to fight against the friction created when water is forced through narrow pipes, around bends and up steep inclines.
- The result is that valves and other devices are later installed to create intentional friction to reduce output to manageable levels.
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- Yet for countries stricken with rising unemployment and rising waste and pollution levels, the question being asked is ‘exactly when will the majority of businesses take note?'
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- However, product heterogeneity, market frictions, or high fixed costs (which make marginal-cost pricing unsustainable in the long run) can allow for some degree of differential pricing to different consumers, even in fully competitive retail or industrial markets.
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- Over that same period, total employment grew by 22 million jobs ,and the unemployment rate fell from 7.5% to 4.0% (the lowest unemployment rate in more than 30 years.).
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- Social democratic programs intended to ameliorate capitalism, such as unemployment benefits or taxation on profits and the wealthy, create contradictions of their own through limiting the efficiency of the capitalist system by reducing incentives for capitalists to invest in production.
- For example, attempts to reduce unemployment too much would result in inflation, and too much job security would erode labor discipline.
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- The insurance typically includes monetary provisions for retirement pensions and survivor benefits, permanent and temporary disabilities, unemployment and parental leave.
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- Although economic indicators are stronger today than they were two or three years ago, protracted high unemployment in the wake of the Great Recession has left millions of Americans with lower incomes and in economic distress.
- Consensus forecasts predict that unemployment will remain high for many more years, suggesting that typical Americans are in for another lost decade of living standards growth as measured by key benchmarks such as median wages and incomes.
- For example, as a result of persistent high unemployment, some expect the incomes of families in the middle fifth of the income distribution in 2018 will still be below their 2007 and 2000 levels.
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- One such lagging indicator is the average length of unemployment.
- One useful indicator of the outlook for future jobs is the number of new claims for unemployment insurance.