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'''Structural''' unemployment means a mis-match of jobs and workers. For example, there may be jobs in the cities and unemployment in mining or logging areas, but people are reluctant to move because of family ties. There may be jobs available in some fields but people who are unemployed lack the necessary skills. This is a structural problem solved by job training and education. Some structural unemployment is caused by policies such as the [[minimum wage]].
'''Structural''' unemployment means a mis-match of jobs and workers. For example, there may be jobs in the cities and unemployment in mining or logging areas, but people are reluctant to move because of family ties. There may be jobs available in some fields but people who are unemployed lack the necessary skills. This is a structural problem solved by job training and education. Some structural unemployment is caused by policies such as the [[minimum wage]].
Finally--and most serious--is '''cyclic unemployment'' (as in 2009, or the [[Great Depression]]), when the whole economy is sagging and businesses lay off tens of thousands of workers. A few new jobs are created every month but they are overwhelmed by the jobs that are lost. In February 2009, the U.S. economy lost 651,000 jobs net (that is, jobs that disappeared outnumbered jobs that were created by 641,000). Over 4.4 million jobs were lost in 2008-9.
Finally--and most serious--is '''cyclic unemployment''' (as in [[Recession of 2008|2008-2009]] and the [[Great Depression]]), when the whole economy is sagging and businesses lay off tens of thousands of workers every day. A few new jobs are created every month but they are overwhelmed by the jobs that are lost. In February 2009, the U.S. economy lost 651,000 jobs net (that is, jobs that disappeared outnumbered jobs that were created by 641,000). Over 4.4 million jobs were lost in 2008-9.
At election time, unemployment is often portrayed as a great evil, but Milton Friedman said,
At election time, unemployment is often portrayed as a great evil, but Milton Friedman said,