The general concept is "friction" and it surely exists in developed countries and professionalized labor markets too, although the specific problem that they po

The general concept is "friction" and it surely exists in developed countries and professionalized labor markets too, although the specific problem that they point at in the abstract is "credit" (being able to bear the time costs of applying to new jobs) which is probably a less significant factor in some other labor markets. But applying for jobs can be extremely time-consuming everywhere.