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What are types of unemployment?

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Types of unemployment include;

  • Structural unemployment - This type of unemployment occurs when the supply of a particular category of workers exceeds the demand for the services.
  • Frictional unemployment - This is a short-term unemployment that occurs as people adjust to market changes for instance, by quitting an existing job to seek a new one.
  • Voluntary / real wage unemployment - It occurs where people choose not to work because they consider the remuneration to be low.
  • Cyclical unemployment - This is unemployment which arises due to situations in the economic activities over a period of time in a pattern known as trade cycle.
  • Residual unemployment - This unemployment arises due to handicaps such as mental disorders and blindness which hinder people from engaging in production activities
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