Less expensive labor pools overseas might create layoffs at a U.S.based engine plant. This is an example of structural unemployment.

Question

Less expensive labor pools overseas might create layoffs at a U.S.­based engine plant. This is an example of structural unemployment.

Quizplus · Accepted Answer

Structural unemployment refers to unemployment caused by changes in the structure of the economy, such as shifts in consumer demand or technological advancements that make certain jobs obsolete. The scenario mentioned in the question - where cheaper labor overseas leads to layoffs at a U.S.-based engine plant - is an example of structural unemployment.

Less Expensive Labor Pools Overseas Might Create Layoffs at a U.S.­based

Less Expensive Labor Pools Overseas Might Create Layoffs at a U.S.based