Unemployment, Employment & Underemployment

Question 1

What is unemployment?

Answer 1

This is a situation where people in the labour force are actively looking for jobs but they are currently unemployed

Question 2

What is employment?

Answer 2

This is the engagement of a person in some occupation, business trade, profession etc.

Question 3

Frictional unemployment

Answer 3

time period between when a worker resigns or is fired till he gets a new job.

Question 4

Cyclical unemployment

Answer 4

unemployment due to growth and production that occurs within the business cycle.

Question 5

Seasonal unemployment

Answer 5

when people are unemployed at certain times of the year because they work in industries where they are not needed all year round.

Question 6

Structural unemployment

Answer 6

Computers, technology takes the place of humans

Question 7

Risual unemployment

Answer 7

unemployment associated to the physically challenged

Question 8

Voluntary unemployment

Answer 8

when a person decides not to work when there are jobs available