The unemployment due to changes in the types of skills employers require is called __________ unemployment.
A) structural
B) cyclical
C) natural
D) frictional

Question

Quizplus · Accepted Answer

Structural unemployment refers to the type of unemployment that results from a mismatch between the skills and qualifications of workers and the requirements of the jobs available in the labor market. This type of unemployment is mainly caused by changes in the economy, such as technological advancements, globalization, and shifts in consumer demand. As a result, workers may require retraining or reeducation to acquire the new skills needed for the jobs available, leading to unemployment in the short-term.

The Unemployment Due to Changes in the Types of Skills