Final answer:
The General Motors workers replaced by robots are experiencing structural unemployment due to technological changes, while college graduates entering the job market face frictional unemployment. Unemployment types include cyclical, due to economic downturns; frictional, from transitions or initial job searches; and structural, from industry-specific skills mismatches and shifts.
Step-by-step explanation:
The General Motors workers who have been laid off and replaced with robots are experiencing structural unemployment. This type of unemployment arises from technological advancements where tasks formerly performed by humans are automated. Since their skills are industry-specific, it can be challenging for them to find similar jobs with comparable wages and benefits without undergoing professional retraining.
Similarly, college graduates who are looking for a job after completing their education are classified as experiencing frictional unemployment. This occurs when individuals are in between jobs or are entering the workforce for the first time, such as recent graduates beginning their job search process.
Types of Unemployment:
- Cyclical unemployment occurs when there is a general decline in economic activity, leading to a reduction in the workforce. An example of this would be landscapers laid off due to a downturn in housing construction during a recession.
- Frictional unemployment includes situations like a financial analyst who resigns and is seeking work in a different location.
- Structural unemployment also covers scenarios such as factory workers in the U.S. who are laid off because their plant shut down and moved operations to a different country, leaving them with fewer options due to industry-specific skills that don't easily transfer to other sectors.