frictional unemployment

(redirected from transitional unemployment)
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Frictional Unemployment

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

see 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.
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Surprises such as transformational recession, transitional unemployment, barterisation, a flourishing informal economy, and managerial entrenchment encompass economic facts specific to the transition process from the former planned economy to a market economy.
If accepted as relevant, the suggested analysis will fix the end of transition at the moment when transformational recession, transitional unemployment, barterisation, a flourishing informal economy and managerial entrenchment have ended.
This is the starting point of an alternative analysis by Boeri (1994), in which transitional unemployment is characterised as a 'stagnant pool': once in the pool, the unemployed have a low probability of leaving it.
Would a second transition stage prolong the initial period of post-socialist economic transformation into market capitalism?
"From Permanent Employment to Massive Lay-Offs: Thc Political Economy of 'Transitional Unemployment' in Urban China (1993-8)." Economy and Society, 28(2), 1999, 281-99.
Policy issues of China's urban unemployment

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