Unemployment arising due to mismatch between Job availability in the market and skills of available worker is called?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is Option 2 i.e. Structural.
Unemployment arising due to a mismatch between job availability in the market and the skills of available workers is called structural unemployment. This type of unemployment occurs when there is a fundamental shift in the economy that alters the demand for certain skills or jobs. It can result from technological advancements, changes in consumer preferences, or other structural changes that make certain skills obsolete while creating demand for new ones. Structural unemployment often requires workers to retrain or acquire new skills to match current job market demands.