Unemployment

Produced by:- Mohammed Abduselam Department of :- IT 2---Holding id-no 09D01A1298

ST.MARYS COLLAGE OF ENGINEERING & TECHNOLOGY

Unemployment
What is unemployment?

Why the government collects statics on the unemployed?

Why do we care ?

What is Unemployment ?
is the state in which a person is without work,

available to work, and is currently seeking work

The unemployment rate is used in economic studies

and economic indexes such as the United States

Unemployment
Unemployed are those who are currently seeking work or

have been with in the last four weeks. People not in the labor force are - those under 16 or confined to prison or nursing home. - active duty military - active student - retired

Unemployment
The government collects statistics on the

unemployed for many reasons. some areas to look at are. 1. Is the unemployment rat increasing or decreasing 2. Is it in just one area or nation wide? 3. Who is losing there jobs?
Should the government get involved?

Unemployment
Unemployment starts a snow ball effects

- once people become unemployed they spend less - spending less means other companies dont make as much money - this then leads to other companies down sizing

Effects of unemployment
Production loss.

-the unemployed person is not helping the economy Spending loss -the unemployed person most likely has no income so they have less spend and stimulate the economy in an essence taking away from someone else's job

 Who is consider to be unemployed and who is considered

to be employed? -people with jobs are employed -people who are jobless, looking for jobs, and available for work are unemployed. -people who are neither employed nor unemployed are not in the labor force

Types of Unemployment
Frictional

Classical
Structural Cyclical or Keynesian Involuntary Hidden Long-term and others

Types of Unemployment
Frictional:-economics unemployment due to people being

in the process of moving between jobs.

Types of Unemployment
Classical:- classical or real-wage unemployment occurs

when real wages for a job are set above the marketclearing level, causing the number of job-seekers to exceed the number of vacancies

Types of Unemployment
Structural:-unemployment resulting from industrial

reorganization due to technological in supply or demand.

Types of Unemployment
Cyclical or Keynesian unemployment :-

cyclical or Keynesian unemployment, also known as demand deficient unemployment, occurs when there is not enough aggregate demand in the economy. it gets its name because it varies with the business cycle, though it can also be prsisten, as during the great depression of the 1930s.

Types of unemployment
Involuntary unemployment :-

In the general theory, keynes argude that neo-classical economic theory did not apply during recessions because of over saving and private investor timidity. in consequence people cold be thrown out of work involuntarily and not be able to find acceptable new employment .

Unemployment dominant in India

people dont work due to some specific

factors such as age, physical problems, age, Misfit in a profession technological and economic factors which are also reason of unemployment increase in population is India is also a main reason of unemployment problem in India

Unemployment dominant in India

The field of business keeps on changing.

The people who are not professionally qualified also can

not get job easily. The system of work has become automated due to technological development and due to this the requirement of manpower has decreased in industries.

Indian Planning
National Employment Service or Employment Exchanges Role of Employers' Organizations and Trade Unions Vocational Guidance and Education Apprenticeship Scheme Training of Craftsmen

Prime Minister's Scheme for Unemployed Urban Youth

Training of Rural Youth for Self-Employment (TRYSEM)

Indian Planning
Prime Minister's Scheme for Unemployed Urban Youth Training of Rural Youth for Self-Employment (TRYSEM) Special Schemes of State Governments Other Special Employment Schemes

Similarities of the recession and the great depression

The stock markets drops - in the depression it crashed - this hurts the top 1% of the high income earners 2. Government policy - the obama administration plans to raise taxes on the affluent, cut them from everyone else and take other steps to reduce inequality. 3 Education - people that would have normally gone into the work force are now going back to school. this will provide our economy with more educated workers in the future
1.