In macroeconomics, the term '___' refers to a situation where a country's GDP expands significantly over a period, but the employment elasticity remains low, meaning the growth fails to generate proportional wage jobs for the expanding workforce.

Answer: jobless growth

Jobless growth typically occurs when an economy's expansion is driven by capital-intensive sectors (like petrochemicals or automated manufacturing) or high-skill services (like IT), rather than labor-intensive sectors like textiles or agriculture. This creates a dangerous structural imbalance where corporate profits and national wealth rise, but the masses experience stagnant wages and high underemployment.