Unemployment
Unemployment, people who are not in work but available to work, people who are looking for work, but claiming benefit-jobseekers allowance. There are different types of unemployment and it depends on the situation at the goods market.
Frictional unemployment-when a worker moves from one job to another. While he searches for a job he is experiencing frictional unemployment. This is a productive part of the economy, increasing both the worker's long term welfare and economic efficiency. It is a result of imperfect information in the labour market, because if job seekers knew that they would be employed for a particular job vacancy, almost no time would be lost in getting a new job, eliminating this form of unemployment.
Structural unemployment is caused by a mismatch between jobs offered by employers and potential workers. This may pertain to geographical location, skills, and many other factors. If such a mismatch exists, frictional unemployment is likely to be more significant as well.
Seasonal unemployment occurs when an occupation is not in demand at certain seasons.
Cycle unemployment Cyclical or Keynesian unemployment, also known as demand deficient unemployment, occurs when there is not enough aggregate demand in the economy. This is caused by a business cycle recession, and wages not falling to meet the equilibrium rate.
Government pay benefit for people who unemployment but for the part of time while person find work.