Unemployment caused by technological advances. This includes machines and software substituting for human labor, advances in efficiency negating the need for friction-based jobs, and increased data availability undermining professions that rely on information asymmetry.

Synonym of welfare trap

plural of unemployment trap

plural of unemployment insurance

(economics) A type of unemployment explained by a seasonal variation in the structure of jobs and/or labour offered. Seasonal unemployment typically repeats the same pattern annually.

(economics) A type of unemployment explained by a mismatch between the requirements of the employers and the properties (such as skills, age, gender or location) of the unemployed.

(economics) A type of unemployment explained by people being temporarily between jobs, searching for new ones. A labour market is regarded as being in the state of full employment if frictional unemployment is the only kind of unemployment present.

(economics) According to the 19th-century German philosopher Karl Marx, unemployment needed by the capitalists in order to maintain work discipline in jobs, keep wages down, and protect business profitability.

(economics) The component of overall unemployment caused by too high wage expectations.

(economics) A type of unemployment explained by the demand for labor going up and down with the business cycle.