the economy is in an expansion and the housing market is growing. as a result of this, a home builder doubles his sales force. this would be best described as an example of a reduction in

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24-10-2022
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the economy is in an expansion and the housing market is growing. as a result of this, a home builder doubles his sales force. this would be best described as an example of a reduction in

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AmishaSrivastava AmishaSrivastava · Answer 1 · 2022-11-04T03:58:53-04:00

The economy is in an expansion and the housing market is growing. as a result of this, a home builder doubles his sales force. This would be best described as an example of a reduction in Cyclical unemployment

What is cyclical unemployment?

Cyclic unemployment is a component of total unemployment that directly results from cycles of economic booms and busts.
Unemployment rates typically rise during recessions and fall during expansions.
An example of cyclical unemployment is the layoff of construction workers during the Great Recession that followed the 2008 financial crisis.
Unemployment can be classified as frictional unemployment, cyclical unemployment, structural unemployment, and institutional unemployment.
On the other hand, cyclical unemployment increases during recessions as consumer demand for goods and services declines.
Therefore, fewer workers are required, leading to layoffs.

To learn more about cyclical unemployment from the given link :

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