The document discusses different types of unemployment including frictional, structural, classical, seasonal, and cyclical unemployment. It defines the unemployment rate as the number of unemployed people divided by the total labor force. Structural unemployment occurs when workers' skills do not match available jobs, and can be caused by new technology, consumer demand shifts, or globalization. Cyclical unemployment rises during economic downturns as spending decreases and companies lay off workers. The document also notes the private and social costs of unemployment as well as its relationship to business cycles and taxes.