what is unployment ? explan it type with examples
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Unemployment occurs when one does not have a job. In the financial world, the term is often short for unemployment rate, which is the percentage of employable people in a country’s workforce who are over the age of 16 and actively seeking work.
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Unemployment: Unemployment situation in a country refers to that situation in which there are large number of persons able to work and they are also willing to work at existing rate of wage, but due to many reasons they do not get any work.
Types :
- voluntary unemployment
- Involuntary unemployment
- frictional unemployment
- seasonal unemployment
- structural unemployment
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