unemployment Flashcards
what is unemployment
Unemployment is a situation where abled bodied person who have the ability to work and are willing to work at the prevailing wage rate are not able to find any work that may yield them some income
cyclical unemployment
cyclic unemployment is associated with the downswings and depression phases of a business cycle
a business cycle has alternating periods of prosperity and depression
during depression phases, income and output fall giving rise to widespread unemployment
caused by deficiency in aggregate demand
inherent feature of developed capitalist economy
frictional unemployment
exists when there is lack of adjustment between demand for and supply of labour force
in a modern economy, people leave jobs and it takes time to find new jobs because of lack of knowledge on the part of the labour. this gives rise to temporary unemployment therefore frictional unemployment arises when existing workers change jobs.
could be due to expanding and declining industries
structurAl unemployment
this refers to a situation where a large number of people do not get work because of limited job opportunities available.
arises from shortAGE of capitaL equipments and other complementary resources
deeprooted and associated with underdeveloped structure of the economy
can be solved through economic developments
open unemployment
when there are some workers who have absolutely no work to do
more in urban areas
absence of work
disguised unemployment
number of works engaged in a job is more than actually required to do the given work
example - agriculture
under employment
when employed persons are contributing to production and income which is less than what they are really capable of.
possess ability and knowledge
non availability of suitable work as per their expertise- choose inferior occupations
seasonal unemployment
a situation where people get to work during some days or months or the year but not regularly throughout the year and therefore they are unemployed for some part of the year
it occurs due to lack of productive work during certain periods of the year in view of season character of certain industries or occupations
educated unemployment
refers to unemployment among educated people
refer more to tb
technological unemployment
unemployment that arises because of the use of labour saving techniques
Causes
low rate of economic growth
low rate of capital formation
rapid population growth
migration of rural popularion
SGRY
Sampoorna Grameen Rozgar Yohana
provide wage employment and food security in rural areas
SJSRY
swarna jayanti shahari rozgar yojana
provide employement to urban unemployed or underemployed
SGSY
Swarnajayanti gram swarozgar yojana
self employment programme for rural people
Pmry
prime ministers rozgar yojana
helping edycated unemployed youth in establishing self employment units
