Question

define unemployment and explain the different types of unemployment.

Answer 1

Dear Student,
Unemployment is defined as a situation in which a person who is actively searching for employment is unable to find any work.
Following are the different types of unemployment:
1. Disguised unemployment: This is a kind of situation in which more than the required number of persons are employed in a particular job.
2. Seasonal unemployment: This is a kind of situation in which certain people are seasonally employed for a specific period but later remain unemployed throughout the year.
3. Structural unemployment: This is a kind of situation in which a particular economy fails to generate sufficient jobs due to various reasons like low level of economic development, illiteracy, backwardness, etc.
Regards