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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

What is structural unemployment? Give examples of structural unemployment.

To determine

The explanation of structural unemployment with examples.

Explanation

Structural Unemployment: It is defined as the unemployment that exists due to lack of skilled workers. If a worker lacks skills (either because he never had any or due to introduction of new technologies) he is said to be structurally unemployed. That is, structural unemployment happens when the skills available do not match with the jobs available. Structural unemployment can be explained with the following few examples:

  1. If the Information Technology sector booms, it would require workers having IT skills...

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