Please define Cyclical Unemployment and Structural Unemployment

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Ans.

Cyclical Unemployment is a type of unemployment which is based on the demand and services produced in an economy which is not able support full employment. It occurs when the economic growth is slow and when the national output decreases.

Structural Unemployment is a type of unemployment which occurs when reorganization of industries happen due to the innovation and improvements in technologies which is termed as technological change and also by the competition which happened because of globalization and developed countries companies moved thier manufacturing process to less developed or developing countries where the labor were cheap and the developed countries labor who were expensive became unemployed .

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Rahul Sunny answered 1 year ago

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