Different types Of Unemployment

 

Different types of Unemployment?

1. Cyclical Unemployment: unemployment is associated with the business cycle. It is a temporary shock to the economy. If there is a downturn in business then the cyclical unemployment occurs.
2. Frictional Unemployment :Frictional Unemployment result in temporary unemployment. The condition that arises when someone leaves his current job in the hope of better job.
3. Structural Unemployment:Structural unemployment creates a  permanent problem in the economy. The unemployment that is created as a result of Technological is created as a result of Technological development is structural unemployment.Structural  unemployment is caused by the fact that companies do not need more people to do their jobs due to technological advancements and have many employees who can not adapt to the technology.
4. Hidden Unemployment : Hidden Unemployment occurs when they are not included in the labour market.They do not consider themselves fit for work and do not find any work but they are willing to work when given the opportunity.
5. Seasonal Unemployment:They are seasonal and occur during the off seasons. For example, in agriculture people can go jobless after the harvest .In tourism, tour guides may be jobless are  as the tourist activity drops after the peak season.