Professional Documents
Culture Documents
SUBMITTED BY
1. Ashish Kumar Verma(212)
2. Raya Mukherjee(210)
3. Chetan Mukhiyan(227)
4. Manmeet (214)
Section: F1
INTRODUCTION
Economic growth of a country basically depends upon
the active labour force engaged in the process of
production. It has been seen in almost all the
economies of the world the whole of the population is
not contributing in the economic prosperity of the
country. Such persons are technically known as
UNEMPLOYED persons.
WHAT IS UNEMPLOYMENT?
General Sense - Unemployment means lack of
jobs even for those who are able and willing to
work at the prevailing wage.
Measurement point of view the unemployment
may be defined as the gap between the potential
full employment and number of employed
persons.
TYPES OF UNEMPLOYMENT
Cyclical Unemployment
Seasonal Unemployment
Technical Employment
Frictional Unemployment
Structural Unemployment
MEASURING UNEMPLOYMENT
CURRENT DAILY
STATUS
CAUSES OF UNEMPLOYMENT
COST OF UNEMPLOYMENT TO
ECONOMY
COST TO INDIVIDUAL
Impact on persons standard of living
Prolonged unemployment leads to an erosion of
skills robbing economy of otherwise useful
talents.
Faith in education and training may be lost (due
to prolonged unemployment)
Harm to mental and physical health of workers.
COST TO SOCIETY
Longer unemployment period leads
volunteerism and higher crime.
Increase in poverty
Exploitation of labour
COST TO COUNTRY
Political unemployment
Decay of cottage and small scale
industries
Brain Drain
to
less
SOLUTIONS TO UNEMPLOYMENT
1. PHILIPS CURVE