Which of the following best describes structural unemployment?

Question

Quizplus · Accepted Answer

Structural unemployment is caused by a mismatch between the skills and qualifications of workers and the available jobs in the market. Workers suffering from this type of unemployment may need to be retrained to acquire the necessary skills for new job opportunities. Therefore, option D is the correct answer. Option A is incorrect because structural unemployment can occur during any phase of the business cycle. Option B is incorrect because structural unemployment is not temporary in nature. Option C is also incorrect because, while there may be a lack of jobs in the market, it is not the sole cause of structural unemployment.

Which of the Following Best Describes Structural Unemployment