Question

explain the term unemployment? state two characteristics of each

Answer 1

Labour force consists of all persons working and all persons though not working, are searching for work.

Characteristics of Unemployment:

(i) Large variations in unemployment rate across groups based on age, race, experience.

(ii) High turnover is observed in the labour market.

Answer 2

Unemployment is the situation of actively looking for employment but not being currently employed.


Characteristics of Unemployment: (i) Large variations in unemployment rate across groups based on age, race, experience. (ii) High turnover is observed in the labour market. ... (iv) Some unemployment may be for a short period of time while some unemployment may be for a long period of time.

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