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Any taks that were originaly undertaken by humans and then become automated means that the human labour is no longer required for the role.

Examples of this are; Accounting. Originall all details of a company were written in to books (ledgers), The information was then filed. It required many individuals in large companies to write in the data accurately, then find entries and write in paymenst against the account and new balances. This is now dont i seconds by one person rather than many.

Banks have exactly the same system originally all ledgers filled with customer account information, monies in and out now its dont by one person at a computer or by OCR systems when documents hare been read in at speed.

Mail systems (postal) were all sorted by hand - now massive sorting offices can sort millions of letters and parcels in hours rather than over night thus speeding up the system and reducing the labour demands

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What are the key differences between structural and frictional unemployment, and how do they impact the overall labor market?

Structural unemployment is caused by mismatches between the skills of workers and the requirements of available jobs, while frictional unemployment occurs when people are temporarily between jobs. Structural unemployment can lead to long-term unemployment and a decrease in overall productivity, while frictional unemployment is a natural part of a dynamic labor market. Both types of unemployment can impact the overall labor market by affecting wages, job availability, and economic growth.


What are the three types of unemployment?

disguised unemployment,open unemployment,under unemployment


Is cyclical unemployment the result of the business cycle?

Yes, cyclical unemployment is a result of the business cycle. It occurs when economic downturns lead to reduced demand for goods and services, causing businesses to cut back on production and lay off workers. Conversely, during periods of economic expansion, demand increases, potentially reducing cyclical unemployment as businesses hire more employees. This type of unemployment contrasts with structural or frictional unemployment, which are not directly linked to the business cycle.


Can you still draw a non social security retirement and get unemployment in the state of Kentucky?

In Kentucky, you can draw retirement benefits and still be eligible for unemployment benefits, as long as you meet the eligibility requirements for unemployment. However, your retirement income may affect the amount of unemployment benefits you receive. It's important to report any retirement income when applying for unemployment, as it could lead to adjustments in your benefits. For specific guidance, it's advisable to consult the Kentucky Labor Cabinet or a legal expert.


Why is persistent unemployment a possibility in the Keynesian model but NOT in the classical model?

In the Keynesian model, persistent unemployment is possible because it emphasizes the role of demand in the economy, suggesting that inadequate aggregate demand can lead to prolonged unemployment. This can occur when wages and prices are sticky, preventing the labor market from clearing. In contrast, the classical model assumes that markets, including the labor market, are always in equilibrium due to flexible wages and prices, meaning any unemployment is temporary and self-correcting. Thus, in the classical framework, there should be no persistent unemployment as the economy naturally adjusts to full employment.

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