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    INTRODUCTION-WPS Office

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    Saba
    This document discusses unemployment in India from an economic perspective. It begins by defining unemployment as when a person who is physically and mentally capable of working is unable to find a job at the existing wage rate. Unemployment indicates how healthy an economy is, as it represents the ability of workers to readily find work. The document notes that unemployment in India has been a concern since the 1950s and that successive Five Year Plans have increasingly prioritized employment as a key part of development strategy. It goes on to discuss causes and challenges of unemployment in India as well as government initiatives to address it.

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    INTRODUCTION-WPS Office

    Uploaded by

    Saba
    32 views2 pages
    This document discusses unemployment in India from an economic perspective. It begins by defining unemployment as when a person who is physically and mentally capable of working is unable to find a job at the existing wage rate. Unemployment indicates how healthy an economy is, as it represents the ability of workers to readily find work. The document notes that unemployment in India has been a concern since the 1950s and that successive Five Year Plans have increasingly prioritized employment as a key part of development strategy. It goes on to discuss causes and challenges of unemployment in India as well as government initiatives to address it.

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    This document discusses unemployment in India from an economic perspective. It begins by defining unemployment as when a person who is physically and mentally capable of working is unable to find a job at the existing wage rate. Unemployment indicates how healthy an economy is, as it represents the ability of workers to readily find work. The document notes that unemployment in India has been a concern since the 1950s and that successive Five Year Plans have increasingly prioritized employment as a key part of development strategy. It goes on to discuss causes and challenges of unemployment in India as well as government initiatives to address it.

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    32 views2 pages

    INTRODUCTION-WPS Office

    Uploaded by

    Saba
    This document discusses unemployment in India from an economic perspective. It begins by defining unemployment as when a person who is physically and mentally capable of working is unable to find a job at the existing wage rate. Unemployment indicates how healthy an economy is, as it represents the ability of workers to readily find work. The document notes that unemployment in India has been a concern since the 1950s and that successive Five Year Plans have increasingly prioritized employment as a key part of development strategy. It goes on to discuss causes and challenges of unemployment in India as well as government initiatives to address it.

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    © All Rights Reserved
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    INTRODUCTION

    This assignment is based on the topic Unemployment. In this assignment I am going to cover the
    details of unemployment. I am going to discuss this topic from Indian prospective.
    Unemployment occurs when a person who is actively searching for employment is unable to find
    work. Unemployment is often used as a measure of the health of the economy. The most frequent
    measure of unemployment is the unemployment rate, which is the number of unemployed people
    divided by the number of people in the labor force. Unemployment in India remains a subject of
    concern since it was first recognized in 1950s. During that period; the Government of India had
    only few initiatives of employment generation until the first Five Year Plan was drafted in the
    year 1950-1951. This plan laid the foundation for overall and sectorial development in a medium
    term prospective for achieving the goal of employment growth and increasing the labour force.
    For the first time, in the Seventh Five Year Plan (1985-1990), employment was placed at the
    core of development strategy. In the Ninth Five Year Plan (1997-2002), employment was
    identified as one of the three important dimensions of state policy with others being quality of
    life and regional balance. The Eleventh Five Year Plan (2007- 2012) mainly focused on
    ‘inclusive’ growth and conceived employment as the key element of the same. Thus
    unemployment has received great importance in the development agenda of India since
    Independence. It is one of the burning topic in India. . In this study we will discuss details about
    unemployment, its causes, challenges, and initiatives taken by the government and individuals to
    alleviate this problem. This assignment report gives you the overview of the social effects of
    unemployment and the challenges ahead for the situation.

    UNDERSTANDING UNEMPLOYMENT

    One of the earliest recollections is being taught this little couplet by Dr. Watts. No doubt many
    others have a similar experience. But the twentieth century is somewhat sceptical of the morality
    of the eighteenth ; and those who speak to-day of the evil of unemployment are not thinking
    mainly, if at all, of the ethical aspect of idleness. Their concern is primarily with an economic
    issue. It may be expressed by saying that ' men and women willing and anxious to work, because
    work to them is livelihood, cannot find work to do or cannot find it at a price they are willing to
    accept.
    Unemployment may be defined as “a situation in which the person is capable of working both
    physically and mentally at the existing wage rate, but does not get a job to work”.In other words
    unemployment means only involuntary unemployment wherein a person who is willing to work
    at the existing wage rate does not get a job. Unemployment is defined by the U.S. Bureau of
    Labor Statistics as people who do not have a job, have actively looked for work in the past four
    weeks, and currently are available for work. Also, people who were temporarily laid off and
    were waiting to be called back to that job are included in this. Unemployment is a key economic
    indicator because it signals the ability (or inability) of workers to readily obtain gainful work to
    contribute to the productive output of the economy. More unemployed workers mean less total
    economic production will take place than might have otherwise. And unlike idle capital,
    unemployed workers still need to maintain at least subsistence consumption during their period
    of unemployment. This means an economy with high unemployment has lower output without a
    proportional decline in the need for basic consumption. High, persistent unemployment can
    signal serious distress in an economy and even lead to social and political upheaval.

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