What is the term for unemployment caused by technological advancements where technology replaces jobs?

The correct answer focuses on the phenomenon where jobs are lost due to advancements in technology that automate tasks which were previously performed by human workers. This type of unemployment occurs when workers find themselves without jobs because their skills are no longer needed in the economy due to new technologies that enhance productivity or create efficiencies.

While "Technological Unemployment" is a specific term that captures the essence of this relationship, it is important to recognize that it often leads to broader implications for the workforce. For instance, workers may need retraining or upskilling to meet new job requirements in an evolving industry. Consequently, this form of unemployment is a notable concern in discussions about the future of work in an increasingly automated environment.

Understanding this term is crucial for analyzing how economies adjust to technological innovations and the impacts on labor markets. Other types of unemployment, such as frictional or cyclical, relate to different causes and scenarios in the job market, but they do not specifically focus on the influence of technology as the primary factor for job displacement.