________ unemployment refers to unemployment caused by the restructuring of firms or by a mismatch between the skills of job seekers and the requirements of available jobs.
A) Frictional
B) Structural
C) Cyclical
D) Seasonal

Question

Quizplus · Accepted Answer

Structural unemployment occurs when there is a mismatch between the skills of job seekers and the requirements of available jobs, or when firms restructure and eliminate certain jobs. This is different from frictional unemployment, which is caused by the temporary time period workers spend searching for new jobs, and cyclical unemployment, which is caused by fluctuations in the business cycle. Seasonal unemployment is a type of frictional unemployment that is caused by seasonal fluctuations in demand for certain types of labor (such as agricultural labor or holiday retail workers).

________ Unemployment Refers to Unemployment Caused by the Restructuring of Firms