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Phillips Curve |ForumIAS Phillips Curve is an economic theory which explains the inverse link between an economy’s unemployment rate and inflation rate A W Phillips made the initial suggestion in the 1950s The fundamental tenet of the Phillips Curve is that when unemployment declines, labour becomes more in demand, forcing firms to compete for workers by raising wages As wages rise, production costs rise as well
[Answered] Discuss the issue of unemployment in India. What India . . . Unemployment is a situation in which the person is capable of working both physically and mentally at the existing wage rate, but does not get a job to work In other words unemployment is a situation in which a person who is willing to work at the existing wage rate does not get a job Unemployment is a reason for alarming concern in India today
Unemployment |ForumIAS Unemployment is a situation in which a person is willing and capable of working at the existing wage rate but does not get a job to work Unemployment refers to a situation where a person who is able and willing to work is not able to find a job It is often used as a measure of the health of an economy, as high levels of unemployment can indicate a lack of available jobs, which in turn can
How unemployment is measured? -ForumIAS Blog To measure unemployment, the number of unemployed people is divided by the total labor force to get the unemployment rate In 2017, India’s unemployment rate was 6 1%, but by 2021-22, it decreased to 4 1% Comparatively, the U S had rates fluctuating between 3 5% in 2022 and 3 7% in 2023
Unemployment Unemployment Unemployment is a condition when a person who is actively searching for employment is unable to find work Unemployment is often considered barometer of the health of the economy NSO defines employment and unemployment on the following activity statuses of an individual: Working (engaged in an economic activity) i e , 'Employed'
What is stagflation?-ForumIAS Blog Stagflation is a situation in which the inflation rate is high, the economic growth rate slows and unemployment remains steadily high
Labour Survey Report 2024 |ForumIAS The Periodic Labour Force Survey (PLFS) was recently released by the Labour Bureau for the period of July 2023 to June 2024 It provides insights into unemployment and workforce participation
India Employment Report 2024 |ForumIAS The India Employment Report 2024 by the Institute for Human Development (IHD) and the International Labour Organisation (ILO) highlights an improved employment scenario in India
World Employment and Social Outlook: Trends 2025 Report News: The International Labour Organisation (ILO) has released its flagship World Employment and Social Outlook: Trends 2025 (WESO Trends) Report Key findings of the Report Source- International Labour Organisation Global unemployment stood steady at 5 percent in 2024 Young people continue to face a much higher unemployment rate of around 12 6 per cent Key challenges facing the labour