Transitional unemployment financial definition of transitional unemployment
frictional unemployment (redirected from transitional unemployment)
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Unemployment that results from incomplete information. Examples of frictional unemployment include first-time job seekers who do not have jobs because they do not have the resources to look for jobs successfully. Frictional unemployment may also occur when a company does not know where to look for qualified individuals. It is thought to be impossible to completely eliminate frictional unemployment.
frictional unemployment or
transitional unemployment UNEMPLOYMENT associated with people changing jobs. In some cases people who leave one job may start another job the next day. In other cases, people may be temporarily unemployed between jobs while they explore possible job opportunities. The latter case constitutes ‘frictional’ unemployment insofar as labour markets do not operate immediately in matching the supply of, and demand for, labour. Some frictional unemployment may be regarded as ‘voluntary'because people choose to leave their current jobs to look for better ones whereas other frictional unemployment is ‘involuntary’ where people have been dismissed from their current jobs and are forced to look for alternative ones. See JOB CENTRE.