Final answer:
Structural unemployment is when workers' skills do not match job opportunities, often caused by technological changes or globalization, leading to occupational mobility as individuals must adapt, retrain, or move to different sectors.
Step-by-step explanation:
Structural unemployment refers to a mismatch between the jobs available and the skill levels of the unemployed. Unlike other types of unemployment, structural unemployment is caused by forces other than the business cycle, such as changes in technology or international competition. When there are shifts in the economy that fundamentally alter the types of jobs available, workers may find that their skills are no longer in demand. This requires them to either gain new skills or move to different sectors where jobs are available, which is referred to as occupational mobility.
For example, technological advancements may lead to certain jobs becoming automated. As a result, the demand for workers in those jobs decreases. This has been evident in the auto industry, where machines have replaced many tasks previously performed by humans. In addition, globalization has led to the outsourcing of jobs, and these economic changes can contribute to high unemployment rates. On the flip side, some unemployed individuals may need to acquire new skills through education or training to become employable in new industries, showing the importance of educational adaptation to minimize the long-term impact of structural unemployment.