Answered

Westonci.ca is your go-to source for answers, with a community ready to provide accurate and timely information. Join our platform to connect with experts ready to provide detailed answers to your questions in various areas. Get precise and detailed answers to your questions from a knowledgeable community of experts on our Q&A platform.

How does technology affect the unemployment rate?

Sagot :

Introduction of new technology has a direct impact on the unemployment rate in an economy. We can say they have an inverse relationship with each other.
Say, a new machine is introduced in a manufacturing industry which can produce a given product in lesser time than the time a worker would take to produce. In such cases, machine will replace man power and thus unemployment would increase.
Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Thank you for visiting. Our goal is to provide the most accurate answers for all your informational needs. Come back soon. Westonci.ca is here to provide the answers you seek. Return often for more expert solutions.