Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
Contents
Unemployment & its Types: A Skewed Reality in India
1 Unemployment
2 Types of Unemployment in India
2.1 Open Unemployment:
2.2 Structural Unemployment:
2.3 Frictional Unemployment:
2.4 Cyclical Unemployment:
2.5 Under-employment:
2.6 Disguised Unemployment:
2.7 Seasonal Unemployment:
2.8 Casual Unemployment:
2.9 Chronic Unemployment:
3 Concept Check
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
Unemployment & its Types: A Skewed Reality in India
1. Unemployment
Unemployment may be de ned as “a situation in which the person is capable of working
both physically and mentally at the existing wage rate, but does not get a job to work”.
In other words, unemployment means only involuntary unemployment wherein a person
who is willing to work at the existing wage rate does not get a job.
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
2. Types of Unemployment in India
2.1 Open Unemployment:
Open unemployment is a situation where in a large section of the labour force does not get a
job that may yield them regular income.
They are able to work and are also willing to work but there is no work for them.
This type of unemployment can be seen and counted in terms of the number of unemployed
persons. Hence it is called open unemployment.
Naked unemployment is another term used for open unemployment. The labour force
expands at a faster rate than the growth rate of economy. Therefore, all people do not get
jobs.
For example, a person unable to nd a work on account of migration from rural to urban areas
is said to be openly unemployed.
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
2.2 Structural Unemployment:
It occurs due to structural changes in the economy.
Structural changes can be due to change in technology (from labour intensive technology to
capital intensive technology) or change in the pattern of demand.
Thus, structural unemployment is a category of unemployment arising from the mismatch
between the jobs available in the market and the skills of the available workers in the market.
In a developing country like India, structural unemployment exists both in the rural and the
urban areas.
For example, if a particular job which is currently being done by a number of workers is
replaced by automation, then these workers would be rendered unemployed due to the
automation process.
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
2.3 Frictional Unemployment:
It occurs when a worker is shifting from one job to the other.
During the mobility period, he may unemployed for some time.
It is a temporary phenomenon. In other words, Frictional unemployment is the time period
between jobs when a worker is searching for, or transitioning from one job to another.
It is sometimes called search engine and can be voluntary based on the circumstances of the
unemployed individual.
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
2.4 Cyclical Unemployment:
It occurs because of cyclical uctuations in the economy.
Phases of boom, recession, depression and recovery are typical characteristics of a capitalist
economy.
In boom phase, high level of economic activity results in high level of employment whereas
recession and depression phases marked with low demand results in more unemployment
and during the recovery phase unemployment is slowly reduced.
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
2.3 Under-employment:
It is a situation under which employed people are contributing to production less than they are
capable of.
It can be in terms of time (visible under-employment) or type of work (invisible under-
employment).
Part-time workers come under this category.
2.6 Disguised Unemployment:
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
A disguisedly unemployed person is the one who seems to be employed but actually he is not.
His contribution to the total output is zero or negligible.
When more people are engaged in a job than actually required, a state of disguised
unemployment is created. It is mostly seen in rural areas.
For example, if in an agriculture eld, 5 people are working to cultivate a crop. Suppose, the
yield obtained is x. Now due to some reason, next year, 2 people were unavailable and only 3
people were doing exactly the same work done last year. At the end, the yield obtained is
again x. This means that those two people were actually disguisedly unemployed in the year
when all 5 were working because even their absence did not result in any decrease in the
yield. To sum up, their contribution to the output was zero.
2.7 Seasonal Unemployment:
It occurs only during seasonal months of the year.
In India, it is very common in agriculture sector. In certain type of industries also this type of
unemployment is found.
2.8 Casual Unemployment:
In industries such as building construction, catering or agriculture, where workers are
employed on a day- to-day basis, there are chances of casual unemployment occurring due to
short-term contracts, which are terminable any time.
Thus, when a worker’s contract ends after the completion of work, he has to nd a job
elsewhere, which he is likely to get depending on circumstances or he may get a fresh
contract with the same rm when some new work is started.
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
2.9 Chronic Unemployment:
When unemployment tends to be a long-term feature of a country it is called “chronic
unemployment.”
Underdeveloped countries suffer from chronic unemployment on account of the vicious circle
of poverty.
Lack of developed resources and their underutilization, high population growth, backward,
even primitive state of technology, low capital formation, etc. are the major causes of chronic
unemployment in underdeveloped economies.
3. Concept Check
Q. Workers temporarily unemployed but who normally nd jobs quickly are called
(a) Cyclically unemployed
(b) Seasonally unemployed
(c) Structurally unemployed
(d) Frictionally unemployed
(e) None of the above
Answer: D
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
Q. Which of the following is an example of structural unemployment?
(a) Red Taxi lays off 500 taxi drivers and replaces them with automated self-driving cars.
The taxi drivers look for work in another industry.
(b) The economy is experiencing a slowdown, so Red Taxi closes down 10 dispatch
o ces and lays off taxi drivers.
(c) Each month, on average three Res Taxi drivers quit their jobs in the city to move to
their village and start searching for work in their own native place.
(d) Each month, on average, one of the Red Taxi drivers who quits and moves to the
country will decide to stop job searching for a new job and retire.
(e) None of the above
Answer: A
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Unemployment & its Types - A Skewed Reality in India Economics and Social Issues
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Our 6-Step Formula to Become an RBI Manager
What is the 6-Step Formula?
Set a
clear goal #1
Always remember that when goals are vague, outcomes are vague. So does it mean that you
must set only 1 and clear goal of clearing the RBI Grade B examination? You may. Nothing wrong
with it. We, however, recommend following a Plan A and Plan B approach. And no, Plan B here
does not mean a backup career option! What it means is that you should design your Plan A and
Plan B exams in such a manner that 1) the preparation of your Plan A exam/s ‘must’ automatically
lead to atleast 80% preparation of Plan B exam/s and 2) when you are devoting time to study for
Plan B exam/s, it must automatically strengthen your preparation for Plan A exam/s.
For example – Let’s say your Plan A exam is to crack the RBI Grade B exam, what should be your
Plan B? The most ideal Plan B will be the SEBI Grade A exam. How? Because it checks both
points as explained above – preparation of RBI Grade B automatically leads to the preparation of
80% syllabus of SEBI Grade A and when you are devoting time to study anything for SEBI Grade
A, it is actually strengthening your preparation for RBI Grade B as well.
Understand
#2 the exam
The syllabus and previous year questions are like the 2 headlights of your car of preparation.
You miss one of these and your car will meet with an accident, let me guarantee you this right
here! The biggest blunder aspirants commit is that they do not define the scope of the syllabus
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in the examination which is even remotely related to the syllabus!
Our 6 step formula to become an RBI Manager | 31
Hell no! This is NOT the case. Download and print a copy of the syllabus and then do the same
for previous year questions. Go through the syllabus atleast 10 times and then go through the
previous year questions (year wise) and see for yourself what are the important topics and in
what depth they need to be studied for the examination. Believe me, more than 90% of the so-
called sincere aspirants do not do this.
Shortlist
Resources #3
Based on step 2, now is the time to shortlist your study sources. Once you prepare a list of the
resources you will follow, DO NOT get swayed by new material that keeps flooding the market
through social media platforms! Keep your head down and focus on completing your study
sources. Yes, once you are done with your sources, you can move to a secondary source but not
before that!
Design a
#4 Time Table
This is a very important step – you must design a time table for yourself. This time table is for
‘you’ and ‘you’ alone. Do not compare your timetable with others, some like studying early in the
morning, some like to burn the midnight oil, some can sit at a stretch for 6 hours, some study for
2 hours and take a break and then study again. Some study on all 7 days, some study for 5 days
and take a 2-day break. Whatever! The point is to have a timetable that ‘works’ for ‘you’. It is not
meant to earn a shower of praises from your parents, friends, or peers!
Our 6 step formula to become an RBI Manager | 32
Develop
Consistency #5
Ah consistency! The ever-elusive thing! The secret to developing consistency is to make ‘micro
easy targets’. How? Let’s compare 2 situations. Student A makes a plan that he will study 8 hours
every day starting tomorrow and sets a goal for himself for the next day – cover 50 pages of
current affairs magazine, 20 pages of motivation theories from a book, 50 questions of ratio &
proportion and write 1 essay. He starts his day full of energy but towards the end of the day finds
himself in quite an uncomfortable position realizing that only 50% of the target has been
covered. He cannot sleep comfortably that night and gets up the next morning tired and
frustrated. Now he has to complete the pending tasks of Day 1 as well as cover whatever he
decided for Day 2 as well! Quite an uphill task, don’t you think?
On the other hand, Student B makes a plan that he will also study 8 hours a day and sets a goal
of completing 20 pages of current affairs magazine, 10 pages of motivation theories and 1 essay.
Now, this student will complete his target ahead of schedule and having done that feel elated,
joyful and full of confidence! This will lead to a good night’s sleep and hence even higher energy
for the next day!
This is how you make ‘micro’ and ‘easy’ targets and achieve them daily and move ahead with
consistency.
Develop
#6 Faith
Always think from your mind and feel from your heart. If you reverse this sentence, you will get
trapped in ‘emotions’. Being emotional isn’t bad at all, its good! Getting trapped in emotions is
what is bad! Once you complete steps 1-5, you will start to develop faith in yourself. Have a little
trust in your mentors as well, talk to them, mail them, get in touch and see how they can help
you!
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