Technological unemployment

Technological unemployment - Unemployment caused by technological changes reducing the demand for labour in some specific tasks.

Technology roils job markets, as Schumpeter conveyed in coining the phrase 'technological unemployment' (Table 1).

Problems created by the division of labor include the monotony of concentration on routine tasks, technological unemployment for people whose skills are not in demand, ...

See also: Saving, Smith, Labour, Total product, Inputs