Question

what do you mean by the term of unemployment

Answer 1

Answer:

Unemployment is a situation when people, who are willing to work at the existing wedges, are not able to find jobs for themselves.

General there are three types of unemployment:

1) Seasonal unemployment is a situation when people are not able to find jobs during the particular months of the year especially in agriculture.

2) Disguised unemployment is a situation when people appear to be employed but in reality they are not.

3) Educated unemployment means unemployment among the educated people. It usually occurs in cities where they are educated or skilled people but no job opportunities.

Answer 2

Answer:

Unemployment is defined by the Bureau of Labor Statistics as people who do not have a job, have actively looked for work in the past four weeks, and are currently available for work. Also, people who were temporarily laid off and were waiting to be called back to that job are included in the unemployment statistics. The BLS reports this in the U-3 report, a part of the monthly jobs report.