Chapter Article in Contemporary Issues In Business And Economics: Volume-1
HIGH RATES OF UNEMPLOYMENT OR UNDEREMPLOYMENT
Dr. Sheetal Chandrakanth Gade,
Assistant Professor, MBA, MGV’SIMR, Nasik, India
- ISBN: 978-1-387-65048-4
- DOI: 10.25215/1387734229.18
Abstract
Abstract
The unemployment rate is probably the best-known labor market measure and certainly one of the most widely quoted by media in many countries. The unemployment rate is a useful measure of the underutilization of the labor supply. It reflects the inability of an economy to generate employment for those persons who want to work but are not doing so, even though they are available for employment and actively seeking work. It is thus seen as an indicator of the efficiency and effectiveness of an economy to absorb its labor force and of the performance of the labor market.