For 10 points, name this phenomenon that occurs when workers are unable to find jobs.
Okun's law dictates that a 1% decrease in this quantity will result in a 2% increase in the GDP. If the actual value of this phenomenon is equal to the NAIRU, inflation rates are predicted to stay constant. The Phillips curve demonstrates its inverse relationship with inflation. Workers who are in transition are said to be experience its "frictional" type, while the "structural" form of this phenomenon occurs when workers' skills are not in demand in the market. For 10 points, name this phenomenon that occurs when workers are unable to find jobs.
Okun's law dictates that a 1% decrease in this quantity will result in a 2% increase in the GDP.
{unemployment}