While hearing the word "unemployment" often triggers images of economic recession and financial hardship, seasonal unemployment is a different beast entirely. It is a natural, predictable part of the economic cycle.
If you are a worker in a seasonal industry, here are three strategies to thrive: seasonal unemployment
: This is perhaps the most significant contributor globally. Employment peaks during sowing and harvesting but drops significantly during the "off-season" when crops are growing or land lies fallow. While hearing the word "unemployment" often triggers images
occurs when people are out of work at certain times of the year because the demand for labor in their industry changes predictably with the seasons. Employment peaks during sowing and harvesting but drops
To understand this concept, it helps to look at the sectors where seasonal unemployment is the standard operating procedure:
This is the classic example. The demand for farmworkers spikes during planting and harvesting seasons. Once the harvest is collected and winter sets in, the demand for labor drops significantly. Workers in this sector often face months of unemployment during the off-season.
When economists look at the unemployment rate (the percentage of the labor force that is jobless), they have to adjust for seasonality.