Unemployment Notes In Ppt For Any Class

UNEMPLOYMENT Unemployment refers to a situation where a person actively searches for employment but is unable to find work. Unemployment is considered to be a key measure of the health of the economy.The official unemployment definition comes from the Bureau of Labor Statistics, which states that "people are classified as unemployed if they do not have a job, have actively looked for work in the prior four weeks and are currently available for work." According to the latest data from the Centre for Monitoring Indian Economy (CMIE) an independent think tank, the unemployment rate in India stood at 9.2 percent in June 2024, a sharp increase from 7 percent in May 2024. Causes of UnemploymentPopulation Growth: The supply of labor surpasses the available job opportunities, leading to higher unemployment rates.Lack of Skill Development: There is often a mismatch between the skills possessed by the workforce and the skills demanded by the industries, resulting in high unemployment rates, particularly among the youth.Slow Industrial Growth: Limited investment in industries can lead to fewer job opportunities, exacerbating the existing situationAgricultural Dependence: Overdependence on agriculture, coupled with limited diversification into other sectors, contributes to high unemployment rateTechnological Advancements: As technology replaces manual labor, certain