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Structural and Cyclical Unemployment

Unemployment throughout an economy can change for structural or cyclical reasons. Structural unemployment is caused by shifts in the economy, improvement in technology, and workers’ lack of requisite job skills, which makes it difficult for workers to find employment. Conversely, swings in companies’ business cycles can cause cyclical hiring or firing.

Structural Unemployment

Cyclical Unemployment

When Does Cyclical Unemployment Become Structural?

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