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INDUSTRIAL UNEMPLOYMENT

It refers to unemployment in the industrial sector. The unemployed workers may be skilled or unskilled. This is generally a form of open unemployment. Slow industrial growth, rapid growth of population, lack of training facilities, low adaptability to modern technology, inconvenient location of industries, low mobility of labour etc. are the main reasons for industrial unemployment. Following are the types of Industrial unemployment : i) Technological Unemployment : Technological unemployment arises because of changes in technology. Modern technology is capital-intensive and requires less labourers. When new techniques are introduced in the industrial sector, existing workers are displaced from their jobs due to lack of proper training, e.g. computerisation, introduction of robotic technology etc. ii) Frictional Unemployment : Frictional unemployment is caused due to breakdown of machinery, power failure, shortage of raw materials, strikes by workers etc. Frictional unemployment is temporary by nature. iii) Cyclical Unemployment : Cyclical unemployment is the result of cyclical fluctuations in the level of business activity. The economy passes through phases of prosperity and depression. During the period of depression, effective demand falls which leads to a fall in the prices and profits earned by the producers. As a result, there is a corresponding decline in investment and production of commodities. A fall in production leads to a fall in employment. As a result, workers are thrown out of jobs during the period of depression. iv) Structural Unemployment : This type of unemployment arises due to drastic changes in the economic structure of a country. These changes may affect either the supply of or demand for a factor of production. Structural changes in the economy are caused by changes in government policies, shortage of capital, shifting of industry from one region to another etc. Structural unemployment is a long term phenomenon. Structural unemployment takes place because of a mismatch between the skills of workers and the jobs that are actually available, e.g. i) horse carts had been replaced by auto rickshaws. ii) introduction of computerised typing has caused unemployment among manual typists.