The Economics of The Office

Learning economics from the world's best boss

Cyclical vs. Structural Unemployment

Michael quit his job (frictional unemployment) but finds out that the economy is in a severe downturn (cyclical unemployment). This demonstrates the idea that most workers are more willing to engage in a job search when cyclical unemployment is high ceteris paribus.

Season 5 Episode 14 "Two Weeks"

Teaching of Economics (A20) Unemployment (J60)

Michael Pam

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