A very good morning to one and all present here. Today, I will be giving a short speech on the topic of �Unemployment�.
Google simply defines the term �unemployment� to be �the state of being unemployed.� Wikipedia, on the other hand, gives a much more detailed explanation. It states as follows: �Unemployment, according to the OECD, is people above a specified age not being in paid employment or self-employment but currently available for work during the reference period. Unemployment is measured by the unemployment rate, which is the number of people who are unemployed as a percentage of the labour force.�
Broadly speaking, unemployment can be classified into 10 different categories. Namely, they are Cyclical Unemployment, Frictional Unemployment, Structural Unemployment, Natural Unemployment, Long-Term Unemployment, Seasonal Unemployment, Classical Unemployment, Underemployment, Regional Unemployment, and Voluntary Unemployment. Again, Disguised Unemployment can also be taken as a form of unemployment, often seen in farms and rural areas.
The unemployment rate in India rose to 8.30 percent in 2022, owing to Covid-19.
Thank you.