Final answer:
The blacksmiths from Smithville are experiencing structural unemployment due to technological changes in their industry. Structural unemployment happens when there is a mismatch between workers' skills and the labor market's needs, often requiring retraining or relocation.
Step-by-step explanation:
The blacksmiths in the town of Smithville who are now unemployed due to the introduction of new metalworking technologies are experiencing structural unemployment. This type of unemployment occurs when there is a disjuncture between the skills of the workforce and the needs of the labor market. Often this is a result of technological change, geographic differences between where jobs are and where people live, or significant shifts in the types of jobs available versus the types people are trained for.
Landscapers laid off during a recession are experiencing cyclical unemployment, tied to the business cycle and economic downturns.
Coal miners laid off due to new EPA regulations are also experiencing structural unemployment because their jobs are disappearing as a result of policy change and industry shift.
A financial analyst moving between states and looking for work is encountering frictional unemployment, which is temporary and occurs during the transition between jobs.
Printers laid off due to digitalization are facing structural unemployment
Factory workers laid off as plants relocate internationally are also dealing with structural unemployment.
Structural unemployment poses a challenge since it often requires retraining or relocating to match workers' skills with available jobs, something that is not always feasible for every individual affected.