Topic

Bharat Ahire SMBA24 Malad

Frictional

unemployment Structural unemployment Cyclical unemployment Seasonal unemployment

Frictional Unemployment:
A type on unemployment caused by workers voluntarily changing jobs and by temporary layoffs; unemployed workers between jobs.

Cyclical Unemployment:
A type of unemployment caused by insufficient total spending or by insufficient aggregate demand.

Structural Unemployment:
It is the unemployment of workers whose skills are not demanded by employers, who lack sufficient skill to obtain employment, or who cannot easily move to locations where jobs are available.

Seasonal Unemployment:
It is the type of unemployment which is caused by the seasonal nature of some industries like agriculture etc.

Causes of Unemployment

Higher growth rate of population. Technology Business Trends Political & Economic Scenario

Lack of technical education Shut down of Industrial units Voluntary Unemployment

Economic and Social Impacts of Unemployment:

Okuns Law: For every 1% increase in employment rate GDP falls by 2%.... When unemployment increases goods and services produced in a country decreases and it adversely affects the economy.

 Increased

Crime and Social Strife Deflationary Pressures Decreased Growth Low purchasing power of people Increased Government Spending Investors hesitate to invest where unemployment rate is high.

Conclusion:

Unemployment is a heinous problem of the whole world. Same is the case with India with multiple challenges. India has to eradicate this economic and social evils along with all of its aspects to the maximum extent.

Conclusion:
Thank You.