ECONOMICS
TECHNOLOGY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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frictionally unemployed
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structurally unemployed
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cyclically unemployed
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dissatisfiededly unemployed dissatisfiededly unemployed
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Detailed explanation-1: -Structural unemployment is long-lasting unemployment that comes about due to shifts in an economy. This type of unemployment happens because though jobs are available, there’s a mismatch between what companies need and what available workers offer.
Detailed explanation-2: -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-3: -Structural Unemployment An example of this is an industry’s replacement of machinery workers with robots. Workers now need to learn how to manage the robots that replaced them. Those that don’t learn need retraining for other jobs or face long-term structural unemployment.
Detailed explanation-4: -Structural unemployment is a direct result of shifts in the economy, including changes in technology or declines in an industry.