discussion bb- week2 - Structural unemployment is a type of...

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Structural unemployment is a type of unemployment due to a mismatching of jobs with workers due to either lack of skills or wrong placement of work. Many times this type of employment causes workers to acquire new skills to obtain a new job for one reason or another. This type of unemployment depends on the social needs of an economy and is affected by dynamic changes. One reason which might cause structural unemployment is technological advances making a previous job nearly obsolete (Types of Unemployment). One example I could think of would be banks going completely computerized causing the bank teller’s position to be obsolete. Frictional unemployment can result in temporary transitions made by workers and employers. This type of unemployment, like structural unemployment, relies on the dynamics of the economy and many times those who are unemployed seeking employment are unable to take the first job offered because of necessary wages and skills. Three causes of frictional unemployment are failing firms, poor job
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