What is the meaning of unemployment

About unemployment-

In simple terms, all those people who are not engaged in any productive work are called unemployed. In economic terms, only those people are considered unemployed who according to their qualifications, prevailing wages.

definition-

An unemployed person is a person who is ready to work at the prevailing wage rate according to his ability and ability but cannot get work.

Types of unemployment in rural and urban areas-

In the context of India, there is a difference in the nature of unemployment in rural and urban areas. Seasonal and latent unemployment is found in rural areas whereas most of the educated unemployment is found in urban areas.

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Seasonal unemployment-

Some of India’s businesses are seasonal. It runs only a few months of the year, so people engaged in these occupations remain unemployed for some time, thus seasonal unemployment is found in those occupations.

Hidden unemployment-

Disguised unemployment or invisible unemployment Partial unemployment is a condition in which the contribution of the labor force engaged in employment to production is zero or almost zero. This means that

Example- If 5 people are required in a business and 8 people are engaged, then 3 people are extra in this business. The contribution made by these three people does not increase the contribution made by 5 people.

Educated unemployment-

Generally educated unemployment is found in urban areas. Many youths holding matriculation, bachelor’s and master’s degrees are unable to find employment even though it is a contradictory situation

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