Some long-run unemployment may be explained by the fact that the number of jobs available in some labor markets may be insufficient to give a job to everyone who wants one.

Question

Quizplus · Accepted Answer

This statement reflects the concept of structural unemployment, which occurs when there is a mismatch between the skills of the labor force and the needs of employers, or when there are not enough jobs available in certain sectors or geographic areas to employ everyone who is looking for work. This type of unemployment can persist in the long run if the underlying issues are not addressed.

Some Long-Run Unemployment May Be Explained by the Fact That