Unemployment caused by an ongoing lack of consumer demand for a particular product, technological change that reduces the need for a specific type of labor, or the relocation of a production process is called:

Question

Quizplus · Accepted Answer

Structural unemployment occurs when there is a fundamental change in the economy that reduces the demand for some types of labor. This can be due to technological changes, shifts in consumer demand, or the relocation of production processes, making certain skills or jobs obsolete.

Unemployment Caused by an Ongoing Lack of Consumer Demand for a Particular