Types of unemployment

Its an audio ppt which was a part of my additional assignment.

1. Types Of Unemployment

2. Frictional Unemployment: It exists when there is lack of adjustment between demand for and supply of labour force. Example : When someone is laid off, changes jobs, or need time to find a job after graduating from school.

3. Structural Unemployment: This refers to a situation when a large number of people do not get work because of limited job opportunities available. Causes of Structural Unemployment: New Technology New Resources Changes in Consumer Demand Globalization - Shift to foreign markets Lack of Education Example: Unemployment in India is basically structural in nature.

4. Seasonal Unemployment : This refers to a situation when people get work during some days or months of the year, but not regularly throughout the year and, therefore, they are unemployed during some part of the year. Examples: When people who sell fire crackers on Diwali are out of a job because the festival has passed.

5. Cyclical Unemployment : It is associated with the downswing and depression phases of business cycle. Examples: A recession causes people to save more and spend less, because of this companies may slow down production and lay off workers.

6. Open Unemployment: It refers to situation when there are some workers who have absolutely no work to do. Examples: Frictional, Structural and Cyclical unemployment are different examples of Open unemployment.

7. Disguised Unemployment: This refers to a situation when the number of workers engaged in a job is much more than actually required to do the given work. For Example, if a piece of land requires only three people to work on it and instead five people are working on it, then the two extra people are said to be in a situation of disguised unemployment.

8. Underemployment : It refers to a situation when the employed persons are contributing to production and income which is less than what they are really capable of. For Example, an individual with an engineering degree working as a pizza delivery man as his main source of income is considered to be underemployed.

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