PRESENTED BY:-Vardhan jainB.com (Hons) Ist year13D244

Unemployment is a state when a person who is actively searching for a job but is unable to find job. Unemployment occurs when a person is available and willing to work but currently without work.

The unemployment rate is expressed as a percentage, and is calculated as follows:

Unemployment Rate=Unemployment Workers

Total Labor Force

Unemployment rate of 2011= 5.6%

2014=3.8%

The incidence of unemployment is much higher in urban area than in rural areas.

Rate for women are higher than those of men.

The incidence of unemployment among the educated is much higher than the over all unemployment.

Greater unemployment in agricultural sector than in industrial and other major sectors.

Unemployment

Voluntary

Involuntary

In this type of unemployment a person is out of job because of his own desire to not work on prescribed wages.

e.g.

workers who reject low wage jobs

A person is separated from work and devoid of wages although he is capable of earning his wages and is also anxious to earn them.

e.g.

workers fired due to an economic crisis,

industrial decline,

Structural unemployment occurs due to the structural changes within an economy. This type of unemployment occurs when there is a mismatch of skilled workers and occupational vacancies in the labor market.

A type of unemployment that occurs due to the seasonal nature of the job is known as seasonal unemployment. The industries that are affected by seasonal unemployment are hospitality and tourism industries and also the fruit picking and catering industries.

Frictional unemployment is a temporary condition. This unemployment occurs when an individual is out of his current job and looking for another job. The time period of shifting between two jobs is known as frictional unemployment.

Cyclic unemployment occurs when there is an economic recession. When there is a downturn in an economy, the aggregate demand for goods and services decreases and demand for labor decreases. At the time of recession, unskilled and surplus laborers become unemployed

Unskilled work force.

Technology.

Lack of additional:

I. Poultry forms

II. Dairy forms.

III. Fisheries

Government is unaffected.

Voluntary retire holders who still want to work.

Recession and the gap in the demand and supply are the causes of unemployment.

Lack of education.

Population.

At individual level:

Mental stress.

Loss of self esteem

Directly link to poverty.

At social level:

Civil unrest.

Law and order problem.

Protectionisms in case of high unemployment for immigrants.

I would like to suggest that with proper economic planning, consistent policies of government, better law and order situation, abolishing energy crisis, sincerity with Pakistan and by adopting the Islamic economic system we can not only tackle the issue of unemployment but every economic problem of our country as well.