job displacement

Job displacement refers to the situation where workers lose their jobs due to various factors like technological advancements, economic shifts, or organizational changes. For instance, automation may replace certain manual jobs, while a company might downsize during a financial struggle. Such displacement can lead to unemployment and may require affected individuals to retrain or seek new career opportunities. Understanding this concept is essential as it highlights the challenges employees face in adapting to a changing job market and the importance of support systems in helping them transition to new roles.