Business, Legal & Accounting Glossary
Cyclical unemployment is when workers lose their jobs because of downturns in the business cycle.
Cyclical unemployment is the component of overall unemployment that results from economic upturns and downturns. Unemployment rises during recessions and declines during economic expansions. Moderating cyclical unemployment during recessions is a major motivation behind the study of economics and the goal of the various policy tools that governments employ to stimulate the economy.
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This glossary post was last updated: 7th February, 2020 | 8 Views.