MANAGEMENT

Detailed explanation-1: -Open unemployment refers to the unavailability of employment/job opportunities for people who are willing to work. Open unemployment is the basic and most significant measure of unemployment rate in an economy.

Detailed explanation-2: -Unemployment is a term referring to individuals who are employable and actively seeking a job but are unable to find a job. Included in this group are those people in the workforce who are working but do not have an appropriate job.

Detailed explanation-3: -Definition: It is a situation when a person is unemployed not due to unavailability of jobs in the economy, but because of not being able to find employment of his/her own choice.

Detailed explanation-4: -There are three types of unemployment that economists describe: frictional, structural, and cyclical. During recessions and expansions, the amount of cylical unemployment changes.

Detailed explanation-5: -Answer: Unemployment is a condition in which skilled and abled individuals do not get gainful jobs at a decent wage. There is unemployment in both rural and urban areas. Seasonal unemployment occurs in the rural population and educated unemployment occurs in the urban areas.