Right Back At It Again. We're coming out swinging! Started out in the spring of 2003. Never went to school, nobody talked to me. 'cept to tell me all the things I couldn't do. Don't wanna hear about it. Got with my guys packed into all our cars. Hit all the nearest scenes, and every local bar. and played a show a night 'til it'd made me sick.
Economic Definition of frictional unemployment. Offline Version: PDF. Term frictional unemployment Definition: Unemployment attributable to the time required to match production activities with qualified resources. Frictional unemployment essentially occurs because resources, especially labor, are in the process of moving from one production activity to another. Employers are seeking workers and workers are seeking employment, the two sides just haven't matched up. Hence unemployment of the frictional variety increases.
Some level of unemployment will always exist for no other reason than that there always will be some people who are between jobs or just starting out their careers. These people are unemployed not because there is a shortage of jobs in the market, but because finding a job takes time. Such temporary spells of unemployment are referred to as frictional unemployment. The combination of these factors brings about a long-term average around which the unemployment rate tends to fluctuate, called the natural rate of unemployment (NRU).