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Structural Unemployment Results When the Number of Jobs Is Insufficient

question 209

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Structural unemployment results when the number of jobs is insufficient for the number of workers.

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Definitions:

Psychological Contract

The unwritten set of expectations between an employer and employee regarding mutual obligations.

Job Security

The likelihood of an individual to retain their job without the risk of becoming unemployed.

Social Security

A government program that provides financial assistance to individuals during retirement, disability, or in the event of death, funded through payroll taxes.

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