Definition Of Unemployment

-Refers to state or condition of being without any work,bot

educated or uneducated person for earning one’s
likelihood.

-Can classified into frictional unemployment,structural

unemployment,cyclical unemployment,and classical
unemployment.
 a)Classical Unemployment
• Or real-wage unemployment occurs when real wages for a job are set
above the market-clearing level casing the number of job-seekers to
exceed the number of vacancies.

• Economist also formulate that unemployment increase governmental

regulation.
 b)Frictional Unemployment
• Refers to time period between jobs when a worker is searching for,or
transitioning from one job to another.

• It’s exist because both jobs and workers are heterogeneous and a
mismatch between characteristics of supply and demand.
 c)Cyclical Unemployment
• Involves unemployment due to lack of a demand for goods and services.

• Also refer as keynesian unemployment that will occur because when

there is not enough aggregate supply in the economy to provide jobs for
everyone.
 d)Structural Unemployment
• Occurs when a labour market is unable to provide jobs for everyone.

• There is a mismatch between skills of unemployment workers and skills

need for available jobs.

• It’s exists when there is a structural changes in the economy of a country.

• Because composition of the labour forces does not respond quickly to

meet changing demand,technological changes or competition from
goods(imported).
 Why Unemployment Exist In This
Country?
• Refer to economic and general reason that recorded as:-
a)Economic
-High population growth
-Technology advancement
-Immobility of labours

b)General
-Lack of experience
-Job leavers
-Wrong courses and poor results