Which of the following statements describes Structural Unemployment ........

Economic Affairs Employment related Issues

Which of the following statements describes Structural Unemployment?

It is a result of the business cycle, where unemployment rises during recessions and declines with economic growth.

It is the loss of jobs due to changes in technology.

It is an unemployment arising from the mismatch between the jobs available in the market and the skills of the available workers in the market.

It refers to the time lag between the jobs when an individual is searching a for a new job or is switching between the jobs.

The unemployment rate had shot up sharply during the nationwide lockdown in 2020 during the first wave of the pandemic.

Types of Unemployment in India

Disguised Unemployment: It is a phenomenon wherein more people are employed than actually needed.
Seasonal Unemployment: It is an unemployment that occurs during certain seasons of the year.
Structural Unemployment: It is a category of unemployment arising from the mismatch between the jobs available in the market and the skills of the available workers in the market.
Cyclical Unemployment: It is a result of the business cycle, where unemployment rises during recessions and declines with economic growth.
Technological Unemployment: It is the loss of jobs due to changes in technology.
Vulnerable Employment: This means, people working informally, without proper job contracts and thus sans any legal protection.

Hence option 3rd is correct.