Unemployment and Underemployment.

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answered Dec 27, 2021 by Shilpajadhav (34.4k points)
selected Dec 28, 2021 by RidhiKumari

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Unemployment	Underemployment
(i) It refers to a situation in which people are willing to work at the prevailing wage rate but do not get jobs.	(i) It is a situation in which employed people are contributing to production, less than their capacity.
(ii) It is a situation when the supply of labour force is more than its demand.	(ii) It is a situation where workers work below his ability as he is unable to find a suitable job.
(iii) Unemployed are those who do not have any work.	(iii) Underemployed work for less than 28 hours a week or CA working as a clerk.
(iv) In this situation, there is wastage of working capacity and a complete waste of manpower.	(iv) In this situation there is underutilization of working capacity.