An Overview of Structural Unemployment
Understanding Structural UnemploymentStructural unemployment represents a common type of joblessness arising from a gap between the skills that workers have and those required by employers. This inconsistency may stem from different factors such as advances in technology, shifts in consumer tastes, or wider economic changes. Contrary to other unemployment types, structural unemployment tends to be more enduring and can have prolonged effects on the economy.The Origins of Structural UnemploymentOne of the main reasons for structural unemployment is the advancement of technology. As sectors transform, automation and emerging technological innovations can make some occupations redundant. For instance, the deployment of automated…