3. Types of unemployment The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictional/y, or cyclically unemployed. Unemployment Type Structural Frictional Cyclical A recent recession has reduced the number of visitors to a local water park. The park has had to lay off 0 O 0 many of its employees, including Maria. Hilary just graduated from college and is looking for a fulltime position with an investment banking firm. O O 0 Edison recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local employers from adding more of the low-skill positions for which he qualifies, so he has been unable O O O to find work. He continues to look for a job, but he's considering going back to school for vocational training. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.2 Cyclical 0.0 Structural 1.1 Total unemployment 4.3 True or False: This economy is not currently at its natural rate of unemployment. 0 True 0 False