What are the different types of unemployment

Describe the types of unemployment that exist in the Indian economy.
There are different types of unemployment, and they indicate different levels of economic health. In India, some of the most common types of unemployment include: 1. Frictional Unemployment: This refers to unemployment that occurs when people are between jobs or in the process of job searching. 2. Structural Unemployment: This type of unemployment occurs due to changes in the structure of an industry, such as technological advances, which make some jobs obsolete. 3. Cyclical unemployment: This occurs when there is a decline in economic activity, leading to a decrease in demand for goods and services. This is typically the type of unemployment that occurs during a recession. 4. Seasonal Unemployment: This type of unemployment occurs due to changes in demand for particular jobs during different times of the year, such as farm labor. In India, the most prevalent types of unemployment are structural and seasonal unemployment, particularly in the agricultural and manufacturing sectors. Additionally, frictional unemployment is also a significant factor. Cyclical unemployment tends to be less of a concern due to the country's consistent economic growth in recent years.
Answered a year ago
Amrita Preparing for Civil Services