frictional unemployment

Definitions

Economics

  • noun unemployment where workers leave their jobs to find something better or in a different place and then take some time to find it. It can be caused by market conditions, including the introduction of new technology or the arrival of new entrants in the market. It can include transitional unemployment.

Health Economics

  • (written as Frictional Unemployment)
    This is that part of total unemployment in an economy caused as people change jobs, engage in job search from a position of not being employed (and therefore perhaps freer to travel to interviews, etc.). Frictional unemployment exists even when there is technically full employment because most people change jobs at some time and many do so frequently in dynamic economies.

Human Resources

  • noun unemployment due to unforeseen circumstances, such as changes in technology, lack of labour mobility or variations in the demand and supply of certain products.
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