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Which type of unemployment characterizes an economy passing through rapid technological changes?
Cyclical unemployment
Open unemployment
structural unemployment
Frictional unemployment
Structural unemployment is a longer-lasting form of unemployment caused by fundamental shifts in an economy and exacerbated by extraneous factors such as technology, competition, and government policy. Structural unemployment occurs because workers lack the requisite job skills or live too far from regions where jobs are available and cannot move closer. Jobs are available, but there is a serious mismatch between what companies need and what workers can offer.
By: Abhipedia ProfileResourcesReport error
Gurpreet Choudhary
structural unemployment is prevalent in economy passing through technological changes
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