key term - Seasonal unemployment

Definition

Seasonal unemployment occurs when individuals are out of work during certain times of the year because their jobs depend on the season. This type of unemployment is common in industries like agriculture, tourism, and retail.

Related terms

Cyclical Unemployment:

Cyclical unemployment arises from declines in the business cycle and is typically linked with economic recessions.

Structural Unemployment:

Structural unemployment occurs when there is a mismatch between the skills workers have and the skills needed for available jobs.

Frictional Unemployment:

Frictional unemployment refers to short-term joblessness that occurs when people are transitioning between jobs or entering the workforce for the first time