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INSTITUTE OF EXCELLENCE IN HIGHER EDUCATION

BHOPAL [M.P]

TOPIC – UNEMPLOYEMENT
2017 – 2018
116079

SUBMITTED TO SUBMITTED BY
PRASHANT KUMAR NAG NAINY KHANDELWAL

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UNEMPLOYMENT
• The unemployment rate is a measure of the
prevalence of unemployment and it is calculated
as a percentage by dividing the number of
unemployed individuals by all individuals currently
in the labor force.
• During periods of recession, an economy usually
experiences a relatively high unemployment rate.
According to International Labour Organization
report, more than 200 million people globally or
6% of the world's workforce were without a job in
2012.
• There remains considerable theoretical debate
regarding the causes, consequences and solutions
for unemployment
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UNEMPLOYMENT

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TYPES OF UNEMPLOYMENT

UNEMPLOYMENT
Classical
Unemployment
Cyclical
Unemployment

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CLASSICAL UNEMPLOYMENT
• Classical, or real-wage unemployment, occurs when real
wages for a job are set above the market-clearing level
causing the number of job-seekers to exceed the number of
vacancies.
• On the other hand, some economists argue that as wages fall
below a livable wage many choose to drop out of the labor
market and no longer seek employment.
• This is especially true in countries where low-income families
are supported through public welfare systems. In such cases,
wages would have to be high enough to motivate people to
choose employment over what they receive through public
welfare.

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CLASSICAL UNEMPLOYMENT

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CYCLICAL UNEMPLOYMENT
• Cyclical, deficient-demand, or Keynesian unemployment, occurs when
there is not enough aggregate demand in the economy to provide
jobs for everyone who wants to work.
• Demand for most goods and services falls, less production is needed
and consequently fewer workers are needed, wages are sticky and do
not fall to meet the equilibrium level, and mass unemployment
results.

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CYCLICAL UNEMPLOYMENT

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HYPERLINK

• For more graphs on unemployment you can click on the link given
below:
• https://www.google.co.in/search?q=PICS+OF+UNEMPLOYMENT&sa=
X&rlz=1C1RLNS_enIN746IN747&biw=2049&bih=919&tbm=isch&tbo=
u&source=univ&ved=0ahUKEwi07ef81r7XAhVBOo8KHdTjCLYQsAQIJg

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