STRUCTURAL EMPLOYMENT Flashcards
1
Q
What is structural unemployment
A
Structural unemployment islong-lasting unemployment that comes about due to shifts in an economy.
There’s a mismatch between what companies need and what available workers offer.
2
Q
Definition of structural change
A
Structural change is a significant shift in the economy’s structure, such as changes in industries or employment patterns. It often involves a transition from one dominant sector to another, like from manufacturing to services.
3
Q
Examples of strucutral unemployment
A
Electric vehicles in Australia were roughly 130,000 in 2023
Due to this mechanics had to be properly trained to be able to repaid and maintain electric vehicles
