structural unemployment

structural unemployment definition - business

structural unemployment

Unemployment that results from a mismatch between the skills needed by employers and the skills possessed by workers. Rapidly changing technology requires employees with new skills at the same time it makes old skills obsolete. Structural unemployment can exist in a strong economy that is near full employment. Compare cyclical unemployment.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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