technological unemployment

technological unemployment definition - business

technological unemployment

The reduction in the need for labor because of changes in technology. For example, the introduction of UPC scanners at retail checkout counters permits fewer employees to perform the same amount of work compared to when prices had to be input into a register. Likewise, utilization of robots in manufacturing plants has reduced the number of employees required to produce most products.

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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