Open Unemployment

Disguised unemployment

(i) Open employment refers to the situation in which an individual has no job and unable to earn his livelihood.

(i) Disguised unemployment refers to the situation in which people work at a place where there is no more people are required. The situation in which people are apparently working but all of them are made to work less than their potential.

(ii) This unemployment is clearly visible.

(ii) This unemployment is hidden.

(iii) People’s unemployment will affect the production of goods and services in an economy.

(iii) People’s unemployment won’t affect the production of goods and services because here already more than requirement of people are working so if they leave that’s not a big deal.