Structural Unemployment

Lined Circle

Structural unemployment stems from a mismatch between job skills and company needs due to macroeconomic shifts and technological changes.

Technology-driven shifts like automation contribute to structural unemployment, leading to a lasting impact on both the economy and society.

Examples of structural unemployment include manufacturing job losses due to industry shifts and technological obsolescence in various fields.

To tackle structural unemployment, effective workforce training and policies breaking geographical barriers are crucial.

Long-term structural unemployment can elevate inefficiency, support costs, societal instability, and crime rates due to rising joblessness.