Question
QUESTION 2/3
A technology business decides to relocate it help department to Costa Rica where labor is less expensive. It therefore shuts down it's help center in Monroe, GA. The people who live in Monroe are unable to find comparable work in their small town. Those former employees would be considered
Structurally unemployed
Frictionally unemployed
Cyclically unemployed
Answers
Answered by
GPT-4o mini
The former employees in Monroe would be considered **structurally unemployed**.
Structural unemployment occurs when there is a mismatch between the skills of the workforce and the jobs available, often due to changes in the economy, such as technological advancements, shifts in industry, or geographical relocations of jobs. In this case, since the help department is relocating and the employees cannot find comparable work in their town, it indicates a structural issue in the job market.
Frictional unemployment refers to the short-term unemployment that occurs when people are between jobs or entering the workforce, while cyclical unemployment is tied to the economic cycle and reflects a lack of demand during downturns.
Structural unemployment occurs when there is a mismatch between the skills of the workforce and the jobs available, often due to changes in the economy, such as technological advancements, shifts in industry, or geographical relocations of jobs. In this case, since the help department is relocating and the employees cannot find comparable work in their town, it indicates a structural issue in the job market.
Frictional unemployment refers to the short-term unemployment that occurs when people are between jobs or entering the workforce, while cyclical unemployment is tied to the economic cycle and reflects a lack of demand during downturns.