ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -Technology improves the productivity and reduces the burden on workers. It also helps to reduce the time of work. Due to increase in technology, demand for technically skilled youth is increasing and hence more jobs available for educated youth. This can solve the problem of educated unemployment to some extent.

Detailed explanation-2: -It is important to note that technological advances have historically increased productivity, generated sustained increases in living standards and created more jobs than they have destroyed .

Detailed explanation-3: -Nowadays, all spheres of human activities are covered by digitalization. The development and adaptation of digital technologies may cause structural unemployment in many industries because of massive automation. Thus, in a short time, the supply of labor will not correspond to the demand.

Detailed explanation-4: -In more recent times, computerization and automation have led to widespread job losses in manufacturing and other sectors. While technology has created new jobs in other sectors, these often require higher levels of education and skills, leaving many workers behind.