Write the the four types of Industrial unemployment in short.
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Answers
Answer :
What is Industrial Unemployment?
=> It refers to unemployment in the industrial sectors caused by the skilled or unskilled workers.
Types of Industrial Unemployment are as follows:
(1) Technological Unemployment :
▶️ Technological Unemployment arises because of changes in the technology. Modern Technology is capital intensive and requires less labours and the existing workers are displaced from their jobs due to lack of training.
For example; Computerisation .
(2) Friction Unemployment :
▶️ Frictional Unemployment is caused due to breakdown of machinery, power failure, shortage of raw material, and stikes by workers etc. It is also called as temporary unemployment.
(3) Cyclical Unemployment :
▶️ Cyclical Unemployment is the result of Cyclical fluctuations in the levels of business activity. There is a corresponding decline in investment and production of commodities. A fall in production leads to fall in employment. As a result, workers are thrown out of jobs the period of depression.
(4) Structural Unemployment :
▶️ This type of unemployment arises due to drastic changes in the economic structure of a country. Structural Unemployment is a long term phenomenon.
Hence,
these were the the types of Industrial Unemployment.
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Answer -
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- When we are using a four-type typology, we say that the types of unemployment are structural, frictional, cyclical, and seasonal. Frictional unemployment is a kind of unemployment that occurs when people are “between jobs” or are looking for their first jobs.
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