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1. TYPES OF
UNEMPLOYMENT

2. What is Unemployment ?
In economics, unemployment refers to the
condition of unwanted job losses, or
willing workers without jobs. The
willingness of the unemployed worker to
be employed is the key to the idea.
A person who is :-
 Physically Fit
 Ment ally sound
 Well qualif ied
 Willing t o work at prevailing wage rat e
BUT DOES NOT GET JOB, THIS SITUATION IS CALLED
“UNEMPLOYMENT”

3. Classification Of Unemployment

4. Unemployment can be broadly classified under two broad
categories –
VOLUNTARY UNEMPLOYMENT - Unemployment that
results when resources which are willing and able
to engage in production choose not to produce
output. These are resources (especially labor)
that decide to leave one job, often in search of
another.
 INVOLUNTARY UNEMPLOYMENT - The contrast to
voluntary unemployment is involuntary
unemployment, in which resources are forced out
of work. Involuntary unemployment is also known
as Forced Unemployment.

5. TYPES OF UNEMPLOYMENT
1. Seasonal Unemployment
2. Cyclical Unemployment
3. Technical Unemployment
4. Frictional Unemployment
5. Structural Unemployment
6. Disguised Unemployment

6. Seasonal Unemployment

7. Seasonal unemployment refers to a
situation where a number of persons
are not able to find jobs during
some months of the year.
EXAMPLE-:
Agricultureisaseasonal activity. Thereisan increased demand for
labour at thetimeof sowing, harvesting, weeding and threshing. In
between thereislittleor no demand for labor. Agricultural labour finds
himself unemployed during thisperiod. Thisiscalled seasonal
unemployment.

8. Cyclical unemployment

9. Cyclical unemployment, occurs when
there is not enough aggregate demand in
the economy to provide jobs for everyone
who wants to work.
Demand for goods and services fall, less
production is needed and less workers too.

10. Technical Unemployment

11. Unemployment caused by technological changes or
new methods of production in an industry or
business.
Example: The evolution of the automobile assembly plant. In the beginning,
everything on the line was done by humans in order to build a car. The assembly line
itself wasagreat technological innovation. Today, robots areemployed for much of the
hand-work humansused to do.

12. Frictional Unemployment

13. This is a type of voluntary unemployment that
arises because of the time needed to match job
seekers with job openings. Just as friction
always takes place before the slider comes to
its final position on the surface, people need
time to find the best job, thus voluntarily
rubbing back and forth between choices and
staying unemployed
Example: When you make up your mind and set off looking for a better job and
abandoning thecurrent one, you arein thefrictional unemployment labor force.

14. Structural Unemployment

15. This unemployment arises due to structural
change in dynamic economy. Unemployment caused
by massive mismatch of skills or geographic
location is noted as structural unemployment.
Example: Heavy Manufacture (mining) - Manufacture now involves machines so
humansareno longer needed for theharder work.
Structural unemployment poses more of a problem
because workers must seek jobs elsewhere or must
develop the skills demanded. The process is full
of pain and frustration, and may lead to negative
impacts on society.

16. Disguised Unemployment

17. When more people are engaged in some
activity than the number of person
required for that, this is called
disguised unemployment
EXAMPLE:
An agricultural field require 3 laborers but people
engaged in this activity is 6 then this unemployment for
3 labors is called disguised unemployment

18. Cost Of Unemployment
Personal Cost -
Loss of paycheck - Loss of earnings to the
unemployed
Loss of self esteem - Those who are unemployed
will find it more difficult to get work in
future(this is known as hysteresis effect)
Increase in social problems - Areas of hig.h
unemployment (especially youth unemployment) tends
to have more crime and vandalism

19. Cost Of Unemployment
Economic Cost -
Loss in output – Labour has productivity, high or low, depending on
its skill and availability of capital per labour. Therefore,
unemployment means loss of output expected from the employment of
unemployed labour force.
Increased Govt borrowings. Tax revenue will fall because there are
less people paying Income Tax and VAT. Also the Govt will have to
spend more on unemployment benefits.
Lower GDP for the economy - The economy will be below full capacity.
This is inefficient and will lead to lower output and incomes.

20. By
Ajmal Aksar
Thank You