Skills mismatch as a macro cause: what the education system produces has little to do with what employers list

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When an industry migrates the whole supply chain leaves and the workers left behind are not unskilled but stranded Labour market rigidity cuts both ways: firing costs so high that firms stop hiring How much does a minimum wage increase actually cut hiring for low-skill entry-level jobs How a shortfall in aggregate demand turns into layoffs: orders drop in spring and headcount falls by autumn How currency swings and export order books translate into factory hiring and firing Payroll taxes and social insurance contributions raise the marginal cost of adding one more employee New drawings and a new parts supplier leave a fitter with ten years on the floor suddenly unqualified Offshoring labour-intensive stages of production moves the jobs out along with the work Austerity suppresses investment and the unemployment rate keeps climbing well after recovery starts Four thousand coal miners cannot code and that gap is textbook structural unemployment