Answered

Westonci.ca offers fast, accurate answers to your questions. Join our community and get the insights you need now. Join our Q&A platform and connect with professionals ready to provide precise answers to your questions in various areas. Join our platform to connect with experts ready to provide precise answers to your questions in different areas.

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 trusting us with your questions. We're here to help you find accurate answers quickly and efficiently. Thanks for using our service. We're always here to provide accurate and up-to-date answers to all your queries. Westonci.ca is committed to providing accurate answers. Come back soon for more trustworthy information.