CHILD RESEARCH AND DEVELOPMENT ORGANISATION



Unemployment

Unemployment is that state of the affairs in the economy, where the larger number of persons of working age is not in a position to get job at the prevailing wage rate. It is a state worklessness for a person who is fit and willing to work having no job..

Unemployment (or joblessness) occur when people are without work and actively seeking work. The Unemployment rate is measure of the prevalence of Unemployment and it is calculated as a percentage by dividing the numbers of unemployed individuals by all individuals currently in the labour force. During periods of recessions, an economy usually experience a relatively high unemployment rate.