Poverty:

Absolute poverty:

 Measures income against the amount needed for basic needs.

 Focuses on absolute deprivation.
 Universal benchmark for poverty assessment.

Relative poverty:

 Measures inability to meet minimum living standards compared to others.

 Considers income and living conditions relative to society.
 Varies across countries or societies.
 Reflects social inequality and disparities.

Causes Of Poverty:

 High growth rate of population and low economic growth rate

 Unemployment
 Low Industrial Development
 Socio-cultural Factors
 Old Technology

Remedial Measure of Poverty Reduction:

 Targeted Programs for Poor

 Women Empowerment
 Increase in Economic Growth Rate
 Investment in Human Capital
 Development of Rural Infrastructure

Unemployment:

Unemployment occurs when individuals of working age are willing and available to work
but cannot find suitable employment.
Types of unemployment:

1. Flexible unemployment: temporary unemployment due to job transitions or job

searches
2. Structural unemployment: mismatch between skills and job requirements
3. Cyclical unemployment arises from economic downturns and recessions.
4. Seasonal unemployment occurs due to seasonal fluctuations in certain industries.

Causes of Unemployment:

1. Economic recession or downturn.

2. Technological advancements and automation.
3. Globalization and outsourcing
4. Skills mismatch between job seekers and job requirements.
5. Labor market inefficiencies and barriers
6. Lack of consumer demand.

Remedial:

 Education and training

 Labor market reforms
 Targeted job programs
 Support for displaced workers
 Collaboration between stakeholders