Key Points
Key Points: Concept of Unemployment
- Unemployment refers to persons in the 15–59 years age group who are able and willing to work at the prevailing wage but cannot find employment.
- Children, elderly persons and those unwilling to work are not counted as unemployed.
- Major types of unemployment are open, seasonal, disguised, educated and underemployment.
- Rural unemployment is mainly seasonal and disguised, while urban unemployment is mainly educated and open unemployment.
- Major causes include population growth, inadequate skills, seasonal employment, technological changes, economic fluctuations and mismatch between demand and supply of labour.
- Unemployment leads to wastage of human resources, poverty, educational stagnation, mental stress, anti-social activities and slow national development.
