Question

The unemployment that results because the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one is called ________ unemployment.

Answer 1

Answer:

Structural unemployment

Explanation:

Structural unemployment: It is a sitution of unemployment where number of job available in the market is very less or insufficient to provide job for all.

Following are the reason of structural unemployment:

- Mismatch between the jobs available in some labor markets and the skills of workers

- Minimum wage causes this because wages above the marginal productivity of less skilled workers limits employment opportunities.

Hence, the number of jobs available in some labor markets is insufficient to provide a job for everyone who wants one is called Structural unemployment.