[This is part of the series: The Complete Guide To Economics 101.]
What is frictional unemployment?
Frictional Unemployment is unemployment of a transitory nature, where people are moving from one phase of life to another.
Examples of this include:
- Summer-camp counselors looking for jobs in the fall
- Students graduating from school and looking for work
- Someone getting out of rehab and trying to get back into the workforce
- And a person quitting their job in hopes of finding a better one (I do not advise this.)