Economics · Economy
An economy is experiencing a high level of unemployment due to structural changes in industries. Many workers, particularly in traditional manufacturing sectors, lack the skills required by the new technology-driven industries. Which type of unemployment is most prevalent in this scenario?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Structural unemployment, caused by a mismatch of skills and job requirements.✓
- 2Cyclical unemployment, caused by periodic economic downturns.
- 3Frictional unemployment, caused by temporary transitions between jobs.
- 4Seasonal unemployment, caused by weather and seasonal variations.
Correct answer
Structural unemployment, caused by a mismatch of skills and job requirements.
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