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A contemporary example of technological unemployment is the displacement of retail cashiers by self-service tills and cashierless stores. That technological change can cause short-term job losses is widely accepted. The view that it can lead to lasting increases in unemployment has long been controversial.
Structural unemployment. Structural unemployment is a form of involuntary unemployment caused by a mismatch between the skills that workers in the economy can offer, and the skills demanded of workers by employers (also known as the skills gap). Structural unemployment is often brought about by technological changes that make the job skills of ...
DAC. DATE. IEEE Robotics and Automation Award. ICCAD. v. t. e. A jobless recovery or jobless growth is an economic phenomenon in which a macroeconomy experiences growth while maintaining or decreasing its level of employment. The term was coined by the economist Nick Perna in the early 1990s. [1][2]
Unemployment, according to the OECD (Organisation for Economic Co-operation and Development), is people above a specified age (usually 15) [2] not being in paid employment or self-employment but currently available for work during the reference period. [3] Unemployment is measured by the unemployment rate, which is the number of people who are ...
Frictional unemployment occurs when a worker is voluntarily between jobs. This is normal and healthy for the economy, as it increases the matches between job openings and seekers. Structural unemployment is caused by structural changes in the economy. This includes technological changes and the movement and relocation of certain industries.
Technological determinism is a reductionist theory in assuming that a society's technology progresses by following its own internal logic of efficiency, while determining the development of the social structure and cultural values. [1] The term is believed to have originated from Thorstein Veblen (1857–1929), an American sociologist and ...
Level of education: Historically, as educational attainment rises, the unemployment rate falls. For example, the unemployment rate for college graduates was 2.4% in May 2016, versus 7.1% for those without a high school diploma. [96] Technology trends, with automation replacing workers in many industries while creating jobs in others.
Deskilling. In economics, deskilling is the process by which skilled labor within an industry or economy is eliminated by the introduction of technologies operated by semi- or unskilled workers. This results in cost savings due to lower investment in human capital, and reduces barriers to entry, weakening the bargaining power of the human ...