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Understanding Structural Unemployment in One Minute: Definition, Explanation, Examples and Causes
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Structural unemployment occurs when there's an imbalance between the skills employers are interested in and the skills potential employees can offer.
A good example of structural unemployment would be let's say the effects of a coal mine closing down. Other examples pertain to technology, worker relocation issues and the list could go on and on.
Identifying the causes is the easy part (although that can sometimes be extremely complicated as well), the question is what can be done to get out of the structural unemployment dilemma?
Unlike cyclical unemployment that occurs after let's say a recession, structural unemployment can end up representing an extremely tricky long-term problem.
By understanding the definition and also explanation of structural unemployment provided in this video, you'll be able to approach the many debates about this topic in a level-headed manner.
Oh and I've also started playing around with Patreon, my link is:
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Last but not least, if you'd like to follow me on social media, use one of the links below:
A good example of structural unemployment would be let's say the effects of a coal mine closing down. Other examples pertain to technology, worker relocation issues and the list could go on and on.
Identifying the causes is the easy part (although that can sometimes be extremely complicated as well), the question is what can be done to get out of the structural unemployment dilemma?
Unlike cyclical unemployment that occurs after let's say a recession, structural unemployment can end up representing an extremely tricky long-term problem.
By understanding the definition and also explanation of structural unemployment provided in this video, you'll be able to approach the many debates about this topic in a level-headed manner.
Oh and I've also started playing around with Patreon, my link is:
Interested in reading a good book?
My first book, Wealth Management 2.0 (through which I do my best to help people manage their wealth properly, whether we're talking about someone who has a huge amount of money at his disposal or someone who is still living paycheck to paycheck), can be bought using the links below:
My second book, the Wall Street Journal and USA Today bestseller The Age of Anomaly (through which I help people prepare for financial calamities and become more financially resilient in general), can be bought using the links below.
Last but not least, if you'd like to follow me on social media, use one of the links below:
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