explain types of unemployment
Answers
Hey !!
There are 6 categories of unemployment, which are as follows
1. Open Unemployment : It is a condition where person has no work to do. Here persons are willing to work, but unable to find a work.
2. Structural Unemployment : This unemployment occurs due to changes in the demand or due to structural shift in economy. Ex:- Shift from labour intensive to capital intensive, skill intensive and technology intensive economy.
3. Frictional Unemployment : This unemployment occurs when person is switching from job to another. For temporary period in between old job and new job he may be unemployed for some time.
4. Under Employment : It is a situation under which person is working well before his efficiency and he is capable of more productive work.
5. Disguised Unemployment : When person's contribution to total output is nil. In this case, person seems to employed but he is not doing productive work. It is common in rural areas especially in agriculture.
6. Seasonal Unemployment : In this peculiar case, person is employed during few month in a year and for rest of the months in a year he is unemployed. This type unemployment is common in agriculture and some agro-processing units.