Question

What is unemployment?How many types of unemployment?Explain

Answer 1

Unemployment is a situation where in the person willing to work fails to find a job that earns them living. Unemployment means lack of employment. In simple way, unemployment means the state of being unemployed.

TYPES

Structural Unemployment

Structural unemployment is one of the main types of unemployment within an economic system. It focuses on the structural problems within an economy and inefficiencies in labor markets. Structural unemployment occurs when a labor market is not able to provide jobs for everyone who is seeking employment. There is a mismatch between the skills of the unemployed workers and the skills needed for the jobs that are available. It is often impacted by persistent cyclical unemployment. For example, when an economy experiences long-term unemployment individuals become frustrated and their skills become obsolete. As a result, when the economy recovers they may not fit the requirements of new jobs due to their inactivity .

Frictional Unemployment

Frictional unemployment is another type of unemployment within an economy. It is the time period between jobs when a worker is searching for or transitioning from one job to another. Frictional unemployment is always present to some degree in an economy. It occurs when there is a mismatch between the workers and jobs. The mismatch can be related to skills, payment, work time, location, seasonal industries, attitude, taste, and other factors. Frictional unemployment is influenced by voluntary decisions to work based on each individual's valuation of their own work and how that compares to current wage rates as well as the time and effort required to find a job.

Cyclical Unemployment

Cyclical unemployment is a type of unemployment that occurs when there is not enough aggregate demand in the economy to provide jobs for everyone who wants to work. In an economy, demand for most goods falls, less production is needed, and less workers are needed. With cyclical unemployment the number of unemployed workers is greater that the number of job vacancies..

Unemployment may be categorized as follows:

seasonal unemployment,

industrial unemployment,

educational unemployment,

technological unemployment, and

disguised unemployment.

Agricultural laborers, farmers, workers of sugar mills, rice sellers, cotton ginning units and ice factories are included in seasonal unemployment.

Answer 2

unemployment is set to express when people who are willing to work at the going wages cannot find jobs in case of rural areas there is seasonal and distinguished unemployment urban areas have most educated unemployment seasonal unemployment happens when people are not able to find out during summer month of the year people depend upon agriculture usually face such kind of problems there are certain busy Seasons when showing hard wasting weeding untrusting is done certain month do not provide much work to the people dependent on agriculture and Employment Letter to wastage of Manpower resources people who are an asset from father economic zone in Liberty there is a feeling of hopelessness and display among the youth people do not have enough money to support their family and Employment test to increase economic overload when a family has to leave on was never there is a General delay in health status and rising withdrawal from the school system