ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -As technology improves, many companies replace employees with machines and computers. This automation results in structural unemployment as many jobs and skills become obsolete.

Detailed explanation-2: -Structural unemployment is a type of unemployment that can last for many years and can be caused by changes in technology or shifting demographics. Cyclical unemployment is caused by economic downturns or is related to changes in business conditions that affect the demand for workers.

Detailed explanation-3: -Technological Unemployment: It is the loss of jobs due to changes in technology.

Detailed explanation-4: -For example, employees who produce a specialty clothing product that suddenly is no longer a trend might lose their position producing this specific product, causing structural unemployment.

Detailed explanation-5: -Relocation subsidies The government subsidizes the relocation of unemployed individuals from regions with high structural unemployment to other regions. In addition, the government can offer subsidies or incentives to companies to create job opportunities in depressed regions.