Types of Unemployment you need to know

The inability of labor to move creates unemployment. Thus, Unemployment cannot be separated from labor.
Types of Unemployment
1. Residual Unemployment: Residual unemployment is the type of unemployment that occurs due to all other causes. Residual unemployment includes those people termed as unemployable because of disability or ill health.
2. Mass Unemployment: Mass unemployment is the most serious of all types of unemployment because it affects almost all the industries at the same time. Mass unemployment is caused by a general deficiency in demand. It is also called Cyclical Unemployment.
3. Seasonal Unemployment: This type of unemployment occurs in some kinds of work. For instance, bad weather causes a temporary suspension of work in the construction industries, which at that time renders the workers redundant with a resultant effect of unemployment.
4. Structural Unemployment: Structural Unemployment arises because of change in demand. This type of unemployment occurs because of immobility of labor.
5. Frictional Unemployment: This is a type of unemployment that occurs due to technological progress as the immediate effect of labor saving machinery is to make some workers redundant thereby causing unemployment.

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11 thoughts on “Types of Unemployment you need to know”

  1. this is really something the government should be working on a lot. and it is also good that online jobs can sometimes help. but can’t sustain living.

  2. Understanding the statistics of the types of unemployment in a country can help give a clearer view as how employment can affect the overall economic status of a country. Demographics is one critical data source that can give a glimpse of possible unemployment causes.

  3. It is the term that most able individuals hate, specially these days when automation is the trend where machines replace humans because businessmen avoid labor costs and other benefits for workers.

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