unemployment in world

1. In simple terms “Unemployment is where a person who is mentally
sound, physically fit, qualified enough and is willing to work.. And
still not getting work, such a situation is termed as
unemployment.”

2. Unemployment can be broadly classified under two broad categories –
 VOLUNTARY UNEMPLOYMENT - Unemployment that results
when resources which are willing and able to engage in production
choose not to produce output. These are resources (especially labor) that
decide to leave one job, often in search of another.

3. EXAMPLE-: Agriculture is a seasonal activity. There is an increased demand for
labour at the time of sowing, harvesting, weeding and threshing. In between there is
little or no demand for labor. Agricultural labour finds himself unemployed during this
period. This is called seasonal unemployment.

4. Cyclical unemployment, occurs when there is not enough aggregate
demand in the economy to provide jobs for everyone who wants to work.
Demand for goods and services fall, less production is needed and less
workers too.

5. Unemployment caused by technological changes or
new methods of production in an industry or
business.
Example: The evolution of the automobile
assembly plant. In the beginning, everything on the
line was done by humans in order to build a car.
The assembly line itself was a great technological
innovation. Today, robots are employed for much

6. This is a type of voluntary unemployment that
arises because of the time needed to match job
seekers with job openings. Just as friction always
takes place before the slider comes to its final
position on the surface, people need time to find
the best job, thus voluntarily rubbing back and
forth between choices and staying unemployed
Example: When you make up your mind and set

7. This unemployment arises due to structural change
in dynamic economy. Unemployment caused by
massive mismatch of skills or geographic location
is noted as structural unemployment.
Example: Heavy Manufacture (mining) -
Manufacture now involves machines so humans are
no longer needed for the harder work.
Structural unemployment poses more of a problem

8. When more people are engaged in some activity than the number of person required
for that, this is called disguised unemployment
EXAMPLE
An agricultural field require 3 laborers but people
engaged in this activity is 6 then this
unemployment for 3 labors is called disguised
unemployment