Types of Unemployment

Question of The Day07-08-2023

Unemployment arising due to mismatch between Job availability in the market and skills of available worker is called?

Answer

Correct Answer : b ) Structural

Explanation :

When there is an economy-wide decline in aggregate demand for goods and services, employment declines and unemployment correspondingly increase.

Structural Unemployment: when the qualification of a person is not sufficient to meet his job responsibilities.

Cyclical Unemployment: Cyclical or demand deficient unemployment occurs when the economy is in need of low workforce

Seasonal Unemployment: This type of unemployment occurs in a particular time of the year or season and thus is known as seasonal unemployment

Frictional Unemployment: Frictional unemployment occurs when a person is out of one job and is searching for another job.

The sum total of frictional and structural unemployment is referred as the natural rate of unemployment

Hence, (b) is the correct answer.

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