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Flashcards in CH 10 EMPLOYMENT Deck (8)
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1

What is unemployment

It refers to a situation when people are willing to work at the existing wage rate And are able to work but are not getting work.

2

What is labor supply, labor force and workforce

Labor supply refers to amount of labour that workers are willing to offer at a particular wage rate
Labour force refers to number of workers working or willing to work.
Workforce refers to number of people actually working

3

Size of workforce in India

Nearly 40 crore persons
70% are male
70% are found in rural areas

4

Employment structure in India

Urban 62% hired and 38% self employed
Rural 54% hired and 45% self employed

32% primary, 22% secondary , 46% tertiary sector

5

What is disguised and seasonal employment

Disguised unemployment- when removal of one or more labour wouldn’t affect the output
Seasonal unemployment -person is employed for some part of year and remains unemployed for remaking part. Happens usually in agriculture

6

What is industrial and educated unemployment

Industrial unemployment- refers to illiterate persons who are willing to work as labour in industries, mining etc but are not able to find jobs
Educated unemployment - fears to literate persons who are willing to work at existing wage rate but can find jobs

7

Various types of unemployment in India

Open unemployment
Frictional unemployment
Structural unemployment
Cyclical unemployment
Underemployment

8

Causes of unemployment in India

Slow economic growth
Population
Seasonal occupation like agriculture
Lack of irrigation facilities
Joint family system
Limited mobility of labour