11 Trending Words of 2014
unemployment that occurs due to industrial reorganization rather than changes in supply or demand
Relatively long-lasting unemployment resulting from long-term shifts in economies and markets rather than short-term savings in economic conditions.
Note: Structural unemployment tends to develop around major changes in an economy, such as the move from an industrial to a technological economy. Workers displaced by the decline of the old economy tend not to be trained in fields suitable for the new economy, so they remain out of work.