Types Of Unemployment

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Unemployment:Person who are employable seeking a job but are unable to get a job.

Types:

1. Frictional Unemployment:
    ✔Left the current job and looking for another
    ✔Time-Lag between job
    ✔It is always exists in the Economy
    ✔Even in the Full employment
    ✔Also called Search Unemployment

2. Involuntary Unemployment:
      ✔Willing and able to work but don't get job

3. Voluntary Unemployment:
    ✔Also called classical unemployment
    ✔People do not want to get a job on existing wage rate
    ✔This is not a real unemployment
    ✔It does not consider during the calculation of Unemployment

4. Disguised Unemployment:
    ✔Employed person's Additional or Marginal productivity is Zero (MP=0)  
   ✔Generally seen in the Primary Sector(Agriculture Field)

5. Structural Unemployment:
   ✔Due to immobility in the labour market
   ✔Unskilled labour
   ✔In structurally weaker economy
   ✔Disparity between the knowledge and skill that are demanded by the employer

6. Cyclical Unemployment:
    ✔Also called Demand Deficient Unemployment
    ✔Long-Term unemployment

7. Seasonal Unemployment:
    ✔Less work in off season  


✔✔Now a days India is facing Structural as well as Cyclical Unemployment.


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