Question

Technological advancements in online banking, have led to its widespread use. As a result, many bank tellers have become unemployed. This is an example of __________ unemployment.

Answer 1

Answer:

Structural unemployment.

Explanation:

Technological advancements in online banking, have led to its widespread use. As a result, many bank tellers have become unemployed. This is an example of Structutal unemployment.

Structural unemployment: It is unemployment caused in economy due to difference in the possesed skill of employee and required skills of employee. It is caused by technogical changes, larger organization enter into the market, updation of training or education, etc. It create bigger problem for the economy as there is gap of skills required and governement need to invest lot of money in training and skill development of employee.