What is Unemployment and types of unemployment in Economics

UNEMPLOYMENT 

Unemployment has been one of the most persistent and manageable problem facing or industrial contries off d world and the same time the goal of public policies has been to remove unemployment and to achieve full employment in such countries.

Types of Unemployment 

Frictional Unemployment 

Frictional unemployment exists when there is lack of adjustment between demand for and supply of labour. These maybe due to lack of knowledge on the part of employers about the availability of worker or on the part of workers that employment is available at particular place. It is also caused by lack of necessary skill for a particular job, labour immorability, breakdowns of machineries, shortage of raw material,  etc. The period of unemployment between losing one job and finding 

another is also included under frictional unemployment.

Cyclical Unemployment 

Cyclical unemployment arises due to cyclical fluctuations in the economy they may be also  generated by international forces.  A  Business cycle consists of alternating period of booms and depressions it is during the downswing of the business cycle that income and output  fall  leading to widespread unemployment

Technological Unemployment 

Keynes failed to take into account technological unemployment that has taken place more rapidly in the post war period modern production process is essentially dynamic where innovations lead to the adoption opening machineries and inventions there by displacing existing workers living behind a trail of unemployment.  When there is automation or displacement of old technology by a new one requiring less worker than before, technological unemployment.

Seasonal Unemployment 

Seasonal unemployment results from seasonal fluctuations in demand employment in ice factory is only for the summer. Similarly ice cream seller remain unemployed during winter and ChestNut seller during summer. The  same is the case with agriculture worker who remain employed during harvesting and sowing seasons and remain idle for the rest of the year.

Disguised Unemployment 

Disguised unemployment or concealed unemployment or underemployment is a notable features of under developed countries. Such unemployment is not voluntary but involuntary. People are prepared to work but they are unable to find work through out the year due to the lack of complementary factors. Such unemployment is found among rural landless and small farmers due to the seasonal nature of form operations and inefficient land and equipment to keep them fully employed.  A person is said to be disguised and Employment is contribution to output is less than what he can produce by working for normal hour per day.  His   marginal productivity   is nil aur nagligible and  withdrawing such labours, from output can be increased.

Structural Unemployment 

Structural unemployment results from a variety of causes.It may be due to lack of the co-operant factor of production, or change in the economic structure of the society.  The word structural implies that the economy the economic change   are massive, extensive, deep seated, amounting to transformation of an economic structure.  The production functions  or labour supply distribution.

Conclusion 

There are also other type of underemployed person in such countries. A person is considered to be underemployed if he is forced by unemployment to take a job that he thinks is not adequate for his purpose, or not commensurate  with his training. 

Furture, there are those who work full time in term of hours per day but earn very little to rise above the poverty level. They are hawkers, petty traders, rickshaw puller, workers in hotels and restaurants and in repair shops, etc. In urban areas. Open and disguised unemployed in urban and rular areas are estimate at 30-35 Per cent of the labour force in   underdeveloped country.