Unemployment means people who are jobless and actively seeking work and are available to take a job.
There are various factors responsible for employment they are as follows. Inadequate skills – Advancement in technology has made many workers unemployed as their skill-sets have become redundant today. In short lack adequate skills many people face unemployment.
The frequent shift in jobs – Frequently switching jobs, creates a period of no employment between one job and the next. For example, a farmer may remain unemployed after the harvest season and may have to search for other odd jobs in urban areas.
Changing economy – The world economy has ups and downs that affect the opportunities for employment. For example, the construction and real estate sector is wellknown for periods of huge economic activity and lull periods In the lull periods there are greater chances of workers losing their jobs.
Seasonal shift – especially in agricultural fields, banking and shipping industry has an effect on urban unemployment.
The gap in demand and supply – Job aspirants are more but job opportunities are less, which creates unemployment crises. The number of individuals who fit a job is far higher than the openings available.
Above are the factors which are responsible for unemployment.
