Frictional Unemployment
Unemployment that arises because it takes time for those:
(i) Who enter the job market for the first time to find jobs;
(ii) Who quit one job to find another
This is mainly due to the fact that information is imperfect and therefore it takes time for employers and workers to find an appropriate match. For example, job seekers tend to spend time to find the best possible job rather than take the first one available, and employers take the time to interview several candidates to find the best fit.
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