Unemployment
Unemployment is a critical topic that refers to individuals who are willing to work at prevailing wages but cannot find suitable jobs. The section uses an example of Sheela, Jeetu, and Seetu to clarify the distinction between employed and unemployed individuals. It identifies that Sheela, while engaged in domestic chores, is not classified as unemployed; similarly, Jeetu and Seetu are too young to be part of the workforce. The workforce population encompasses individuals aged between 15 and 59.
Two main forms of unemployment exist in India - rural and urban - each presenting unique characteristics. Rural unemployment can be classified as:
- Seasonal Unemployment: Occurs when agricultural workers cannot find jobs during certain times of the year due to seasonal work patterns.
- Disguised Unemployment: Exists when more workers are employed than necessary, where removing some workers will not significantly diminish productivity.
In urban areas, the phenomenon of Educated Unemployment is prevalent, where young individuals with degrees struggle to find jobs, leading to a paradox where one sector faces surplus manpower while another suffers shortages. The implications of unemployment extend beyond the economic sphere, inducing social despair, reducing family incomes, and affecting overall societal health and education. Unemployment can signal an economically depressed state and represents a significant waste of human resources. In India, although the statistics show relatively low unemployment rates, many individuals labeled as employed earn insufficient income, further highlighting the complexities of unemployment in the economy.