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has begun. When the demand for what a firm is selling declines expectedly
and unsold inventories begin to mount, the firm will restrict production and
look for what ways to trim costs. Because labor costs generally make up a
sizable part of firms marginal costs, layoffs and a rise in unemployment rate
are only to be expected once a recession gets going.
rural areas, agricultural workers form the bulk of the unorganized sector.
In urban India, contract and sub-contract as well as migratory agricultural
labourers make up most of the unorganized labour force.
Consequences of unemployment:
The following are the Consequences of unemployment:
The social, economic and political consequences of large-scale and
variety of unemployment are pretty serious and have dangerous
potentialities.
It involves underutilization of valuable human resources.
The time and energies of a large mass of people are not gainfully
harnessed.
Discounted and frustrated young persons are liable to be exploited for
unsocial purposes and indulge in anti-social activities.
Unemployment Rate in India decreased to 4.90 percent in
2013 from 5.20 percent in 2012. Unemployment Rate in
India averaged 7.32 percent from 1983 until 2013,
reaching an all time high of 9.40 percent in 2009 and a
record low of 4.90 percent in 2013. Unemployment Rate in
India is reported by the Ministry of Labour and
Employment, India.
Conclusion
Unemployment is a very serious problem and this can be controlled up
to a certain limit. The present educational system can be modified and technical based
education should be given. The population growth must be slowed down.Goverment
should encourage the self employed people and give aid to them.Structal unemployment
must be overcome by easy mobility of labors.