technological unemployment

Technological Unemployment

Unemployment that occurs because advances in machinery renders workers redundant. For example, a machine that mass produces shoes may cause a cobbler to lose his business. Technological unemployment is the result of a disparity between the collective skills of the workforce of an economy and the skills necessary to perform the available jobs. As such, it is a type of structural unemployment.

technological unemployment

UNEMPLOYMENT resulting from the AUTOMATION of production activities. Automation serves to improve labour PRODUCTIVITY, reducing the labour needed for making and distributing products, so some labour may become unemployed. If demand rises as a result of reduced costs and prices of products, labour may not be made unemployed, the same labour force serving to produce a greater output (rather than a reduced labour force producing the same output). In addition, technological change can serve to make particular labour skills obsolete. Government assistance schemes and retraining of labour can alleviate the problem of technological unemployment to some extent. See STRUCTURAL UNEMPLOYMENT, TECHNOLOGICAL PROGRESSIVENESS, SUPPLY-SIDE ECONOMICS.

单词	technological unemployment
释义	technological unemployment Technological Unemployment Unemployment that occurs because advances in machinery renders workers redundant. For example, a machine that mass produces shoes may cause a cobbler to lose his business. Technological unemployment is the result of a disparity between the collective skills of the workforce of an economy and the skills necessary to perform the available jobs. As such, it is a type of structural unemployment. technological unemployment UNEMPLOYMENT resulting from the AUTOMATION of production activities. Automation serves to improve labour PRODUCTIVITY, reducing the labour needed for making and distributing products, so some labour may become unemployed. If demand rises as a result of reduced costs and prices of products, labour may not be made unemployed, the same labour force serving to produce a greater output (rather than a reduced labour force producing the same output). In addition, technological change can serve to make particular labour skills obsolete. Government assistance schemes and retraining of labour can alleviate the problem of technological unemployment to some extent. See STRUCTURAL UNEMPLOYMENT, TECHNOLOGICAL PROGRESSIVENESS, SUPPLY-SIDE ECONOMICS.
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