GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Occurs when workers who want to work are unable to find jobs, which lowers economic output; however, they still require subsistence.
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Employment that goes under the radar.
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The condition in which people in a labor force are employed at less than full-time or regular jobs or at jobs inadequate with respect to their training or economic needs
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Employment that does not show up in the employment figures.
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Detailed explanation-1: -Underemployment is a condition in which workers are employed in less than full-time or regular jobs or insufficient jobs for their training or economic needs. Also, underemployment is a worker’s underuse because a job does not use the skills of the worker, i.e. part-time, or leaves the worker idle.
Detailed explanation-2: -Underemployment is the term used to designate the situation of those who are able to find employment only for shorter than normal periods-part-time workers, seasonal workers, or day or casual workers.
Detailed explanation-3: -Unemployment is a situation in which people are willing to work and capable to work, but still, they are not getting work. Underemployment, on the other hand, is a situation in which an individual is working much below his potential.
Detailed explanation-4: -The labour force underutilisation rate is defined as the sum of the number of persons unemployed and underemployed, expressed as a percentage of the labour force. The labour force underutilisation rate is an aggregate measure of underutilisation.