Usually means: Mismatch between skills and jobs.
Definitions Related words Mentions
We found 4 dictionaries that define the word classical unemployment:

General (2 matching dictionaries)
  1. classical unemployment: Wiktionary
  2. Classical unemployment: Wikipedia, the Free Encyclopedia

Business (2 matching dictionaries)
  1. Accounting, Business Studies and Economics Dictionary (No longer online)
  2. BusinessDictionary.com (No longer online)

Definitions from Wiktionary (classical unemployment)

noun:  (economics) The component of overall unemployment caused by too high wage expectations.

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