What is unemployment?


We will discuss What is unemployment?


Unemployment is defined as the non-availability of jobs or work for the people who are able and willing to work at the existing wage rate. Or it is the situation in which people who are searching for a job are unable to find the job.

Poverty, inequality, robbery, prostitution, theft, murder, etc are the major problems created by unemployment. It is the problem of both developing and developed countries. Hence, creating employment can solve many problems. Which indirectly, enhances the economy of the country.

Various types of unemployment:

Following are the types of the employment

  1. Open unemployment
  2. Under unemployment
  3. Cyclical unemployment
  4. Frictional unemployment
  5. Structural unemployment

Developing countries like Nepal need to fix unemployment problems. All the types of unemployment need to fix. The Sooner the problems are solve, the faster the country will get benefits.

Opening industry, factories, and companies can solve the problems. Enhance the lifestyle of people.

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