Differentiate between voluntary and involuntary unemployment, on four basis. (four points of difference)
Dear Student,
Here is the difference between voluntary and involuntary unemployment
Here is the difference between voluntary and involuntary unemployment
| Voluntary Unemployment | Involuntary Unemployment |
| Voluntary unemployment refers to a situation where a person who is able to work remains willingly unemployed. | Involuntary unemployment is a situation where a person who is able and willing to work does not get work at the existing wage rate. |
| Voluntary unemployment is not as serious as involuntary unemployment | It is a serious problem for an economy. |
| Under this situation, the person remains unemployed despite jobs being available in the market. | Under this situation, the person remains unemployed due to non-availability of jobs in the market. |
| Various factors causes voluntary unemployment such as waiting for a job with high salary, lack of mobility, etc. | Causes of involuntary unemployment includes inadequate employment opportunities, salaries less than qualification. |