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Unemployment is said to exist when people who are willing to work at the going wages cannot find jobs.

The various types of unemployment are seasonal, disguised and educated unemployment. Seasonal unemployment occurs when a person is employed for a few months in a year.

Disguised unemployment occurs when there are more people employed in an activity without adding to the output from production. If some of these people are removed, it would not affect the total production. Educated unemployment occurs when an educated person (educated upto secondary level) does not find a productive job. In India, unemployment is common in rural as well as urban areas. The slow rate of economic growth along with a rapid rate of population growth, overdependence on agriculture with disguised and seasonal unemployment conditions, slow rate of industrial development, defective educational system which is not job or skill oriented are some of the reasons for unemployment in India. A large number of unemployed people in the economy are a liability, and their contribution to the economic growth is not there.

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