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  • 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
  • Current daily status |ForumIAS
    Current daily status takes into account the activity of a person on a daily basis within a reference period of one week If a person works for 4 hours or more during a day, then he is considered employed for the whole day If a person works for more than 1 hour but less than 4 hours, then he is considered employed for the half day A person is considered unemployed if he is not able to find
  • Disguised unemployment |ForumIAS
    Disguised unemployment aka hidden unemployment refers to a situation where labour that is employed but he she is not utilised for the production of goods and services It does not contribute to the output of an economy as their marginal product is zero (contribution to production is nil)
  • 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
  • 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 . . .
    The problem of disguised unemployment is the biggest contributor behind this deficit Also the seasonal nature of employment in the sector lead to recurring cycles of unemployment for the rural population Lack of skills: There has been a push towards providing the employment opportunities to the people by government by skilling them
  • Economy Previous Year Questions (PYQs) | UPSC Mains Examination
    Economy Previous Year Questions (PYQs)| UPSC Mains Examination On this page you will find all the updates related to the previous year’s questions on subject Economy for UPSC IAS Mains examination The syllabus of GS paper 3 includes topics on economic development Questions related to: Topic: The Indian Economy and issues relating to planning, mobilization of resources, growth, development
  • Consider the following statements regarding the Phillips Curve . . .
    Explanation: Statement I is correct as the Phillips Curve is a graphic curve that shows an inverse relationship or trade off between inflation and unemployment Statement II is incorrect because Milton Friedman and Edmund Phelps challenged this idea, arguing that the trade-off was only short-term and there was no long-term trade-off between inflation and unemployment
  • [Answered] Evaluate the significance of the PM Internship Scheme in . . .
    The PM Internship Scheme, operationalized through an online portal, is designed to address youth unemployment in India by offering year-long on-the-job training This initiative seeks to bridge the gap between academic education and the professional skills demanded by industries The scheme, involving both private sector participation and government funding, aims to provide youth with
  • Consider the following statements regarding the Periodic Labour Force . . .
    Q Consider the following statements regarding the Periodic Labour Force Survey (PLFS): 1 The survey is conducted by the Ministry of Labour 2 It aims to estimate important employment and unemployment indicators in both usual status (US) and CWS in both rural and urban areas annually Which of the statements given above is are correct?





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