Consider a broom factory that permanently closes because of foreign competition. If the broom factory workers cannot find new jobs because their skills are no longer marketable, then they are classified as a. a seasonally unemployed. b. frictionally unemployed. c. Structurally employed d. Cyclically unemployed

Question

Ryan Fischer

Business

31 August, 13:14

Consider a broom factory that permanently closes because of foreign competition. If the broom factory workers cannot find new jobs because their skills are no longer marketable, then they are classified as a. a seasonally unemployed. b. frictionally unemployed. c. Structurally employed d. Cyclically unemployed

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Answers (1)

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Mark Ramsey · Answer 1

Answer: Structurally unemployed

Explanation:

Structural unemployment is a type of unemployment that is involuntary and caused due to the mismatch between the skills that a worker has and the available skills the jobs in the economy requires. In structural unemployment, the skills demanded of the workers by employers is different from the skills the person that is looking for the job has.

Structural unemployment is also called the skills gap and can be as a result of the technological changes that happens in the economy which make the job skills of some workers obsolete.