Final answer:
The relationship between globalization and long-term unemployment is multifaceted, with outsourcing and structural unemployment affecting job markets in developed countries, while economic transformations present new opportunities and challenges.
Step-by-step explanation:
The relationship between globalization and long-term unemployment can be quite complex. Globalization, which involves the increasing interconnectedness of national economies, has led to significant shifts in where and how work is conducted. One of the key impacts is the outsourcing of manufacturing and service-industry jobs from developed countries to developing ones. While this can lead to economic growth in developing countries, it can result in increased unemployment in the countries where jobs are outsourced from.
Countries that fail to innovate and train their workforce for new industries could see a rise in long-term unemployment and a consequent reduction in support for globalization. Another considerable effect is structural unemployment, a situation where there is a mismatch between the skills of the labor force and the jobs available due to technological changes or shifts in the economy.
Furthermore, while the United States has seen fluctuations in its unemployment rates, over the long term, the job market has grown, suggesting that trade and globalization haven't led to a decline in the total number of jobs. Rather, the nature of the jobs has changed, with new industries emerging and others declining. Still, the rise in unemployment during the late 2000s recession signifies the vulnerability of employment to economic downturns, exacerbated by the process of globalization.