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Flashcards in CH 10 EMPLOYMENT Deck (8)
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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.


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


Size of workforce in India

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


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


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


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


Various types of unemployment in India

Open unemployment
Frictional unemployment
Structural unemployment
Cyclical unemployment


Causes of unemployment in India

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