Your manager has asked you to prepare a 1200 word report on unemployment in the Australian labor market. In particular your manager has specifically requested that your report clearly explains

Differences between fictional unemployment structural employment and cyclical unemployment and the costs associated with unemployment

The report must be structured as follows:

1. Introduction

2. Unemployment in Australia: a brief overview.

3. Major types of Unemployment

· Cyclical Unemployment
· Structural unemployment
· Fictional Unemployment

4. Cost of unemployment

5. Policy Implications

6. Conclusion