Question

what is unemployment ? describes the types of unemployment ?

Answer 1

Hey,
Thanks for asking this question.

Unemployment is a situation where someone of working age is not able to get a job but would like to be in full-time employment.

People try to get employed so that they will be able to maintain a good standard of living. Nowadays nothing comes cheap and that is why everyone wants to have a good job.


Types of unemployment-

•CYCLICAL UNEMPLOYMENT
Such unemployment occurs due to deficiency of demand or purchas­ing power and is also called demand-deficient unemployment.
Since this type of unemployment is caused by a general deficiency of demand, it affects all industries at the same time.

•FRICTIONAL UNEMPLOYMENT
It occurs when changing demand patterns in an economy dislocate existing production patterns to the extent that labour becomes redundent.

•STRUCTURAL UNEMPLOYMENT
Structural unemployment is long-term unemployment caused by the decline of certain industries and changes in production process.

•SEASONAL UNEMPLOYMENT
This type of unemployment occurs due to seasonal pattern of demand and the consequent seasonal nature of activities in some industries.

•VOLUNTARY UNEMPLOYMENT
Voluntary unemployment is defined as a situation when workers choose not to work at the current equilibrium wage rate.


HOPE THIS ANSWER HELPS.

Answer 2

Unemployment

Explanation:

• In an economy Unemployment refer to the situation where people are Jobless and there is a vacancy in the market for the people and people do not have money to buy basic necessities.
• Unemployment refers to the situation that is not having Job, also referred to the situation that is out of work or Unemployed.

Types of Unemployment

• Regional unemployment
• Seasonal unemployment
• Disguised unemployment
• Casual unemployment

Learn more: Unemployment

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