{[ promptMessage ]}

Bookmark it

{[ promptMessage ]}

Unemployment - Unemployment Types of Unemployment After the...

Info icon This preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Unemployment Types of Unemployment: After the Great Depression (1929-33), two major economic problems that world economies have been facing are Unemployment and Inflation . Therefore the public authority of any nation today has the primary responsibility of minimizing the level of unemployment and aiming for the full employment condition. An equally important task of the public authority is to contain inflation. There are various types or sources of unemployment. These are the contributory causes of unemployment conditions. The main types of unemployment are: i) Frictional Unemployment: Whenever there are frictions or some maladjustment in economic and productive activities, a part of the labor force is likely to be rendered unemployed. The frictions are caused because of a variety of factors. These include changes in the technical conditions of work, shift in the site of an industrial unit, market imperfections and want of adequate information, failure of adjustments in the supply and demand conditions etc. Normally, frictional unemployment is partial and temporary. It is partial in the sense only a part of the labor force in certain sections of the economy is rendered unemployed. Again it is temporary in the sense once the frictional forces are located and corrected the level of employment can be restored.
Image of page 1

Info icon This preview has intentionally blurred sections. Sign up to view the full version.

View Full Document Right Arrow Icon
Image of page 2
This is the end of the preview. Sign up to access the rest of the document.

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern