Difference between voluntary and involuntary unemployment for class11
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Difference between Voluntary and Involuntary Unemployment. An involuntary unemployment means a situation in which all able persons who are willing to work at the prevailing wage rate do not get work. ... Thus, their unemployment is involuntary (i.e., not voluntary) because they are rendered unemployed against their wishes.
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Voluntary Unemployment
Voluntary unemployment refers to a situation on people choose to remain unemployed even when jobs are available. They may not be willing to work at all or not willing to work at the existing wage rate.
Involuntary Unemployment
Involuntary unemployment refers to the situation when some people are not getting work even when they are willing to work at the existing wage rate.
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