Employment:growth, Information and Other issues
Employment:growth, Information and Other issues
Labour Force: All persons, who are working (who have a job) and though not working, are seeking and are available for work.
Employment: Employment is an activity which enables a person to earn his means of living.
Full employment: Full employment is a situation in which all the workers who are capable of working and willing to work get an employment at a prevailing wage rate.
Self-employment: When the worker uses his own resources to work and make a living then we call it as Self Employment.
Seasonal unemployment- Unemployment that occurs at certain seasons of the year is known as Seasonal unemployment.
Disguised unemployment- Disguised unemployment refers to a state in which more people are engaged in work than are really needed.
Work force: The number of persons, who are actually employed at a particular time are known as work force.
Worker – population ratio: Worker- population ratio is the percentage of total population engaged in work.
Informalisation of workforce- Informalisation of workforce refers to a situation whereby the proportion of workforce in the informal sector to total workforce increases. 93 % labors is in informal sector.
Frictional unemployment-Temporary unemployment, which exists during the period, wherein. Workers leave one role and join some other, are called frictional unemployment.
Casual Wage Labourer- Workers who are not hired by their Employers on a regular or permanent basis (i.e.do not have job security) and do not get social security benefits, are termed as casual wage labour.
Regular workers- Workers who are hired by their employers on a permanent basis and also get social security benefits (like pension, provident fund, etc.) are higher in regular workers.
Jobless growth- Jobless growth refers to a situation when the Economy is able to produce more goods and service without a proportionate increase in Employment opportunities.
Formal sector establishment- All the public enterprises and private establishments, which Employ 10 or more hired workers are called formal sector establishments.
In voluntary unemployment- occurs when those who are able and willing to work at the prevailing wage rate do not get work.
Informal sector Establishment- All those private enterprises which hire less than 10 workers are called Informal sectors.
Casual workers -refer to those workers who do not work throughout the year. They only work for few months. Casual workers are not hired by employers on a regular basis. They do not enjoy social security benefits like provident fund, gratuity, etc. They are generally unskilled workers. For example: workers working at a construction site.
Cost push inflation -is inflation caused by an increase in prices of inputs like labour, raw material, etc. The increased price of the factors of production leads to a decreased supply of these goods.
Demand-pull inflation- is a term used to describe when prices rise because the aggregate demand in an economy is greater than the aggregate supply.
Q. What is worker population ratio? How do we calculate Worker population ratio? What is it’s use?
Ans: WPR refers to participation of people in the employment.
Total number of workers in India
WPR = _________________________ x 100
No. of work population In India
It helps in knowing the proportion of population that is actively contributing to the production of goods and services of a country.
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