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Now many people are losing their jobs. Identify the relationships of technological and cyclical unemployment for...

Now many people are losing their jobs. Identify the relationships of technological and cyclical
unemployment for these job losses.

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Answer #1

Answer - As we all know that the world is suffering from the corona virus pandemic. Due to this , the economic activities have been shut down in the US economy. This has costed around 36.5 million of jobs in last months. The economy is suffering from the cyclical unemployment because of the phase of recession going in the economy of US and many other countries across the globe. This is called the cyclical unemployment. Also lot of work will be now carried out with technology because of lesser labor force demand to avoid the spread of infection. Due to more technology in place , people will be laid off and this will be called the technological unemployment.

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