Old as structural unemployment is, it is probably a bigger problem today because we have recently had a slow growth rate that makes it more difficult to reabsorb structurally displaced workers.

Question

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Structural unemployment, which occurs when there is a mismatch between the skills workers have and the skills needed by employers, is exacerbated by slow economic growth. Slow growth means fewer new job opportunities are created, making it harder for displaced workers to find new employment.

Old as Structural Unemployment Is, It Is Probably a Bigger