are there various theories to the aforesaid term?
Voluntary unemployment is attributed to the individual's decisions, but involuntary unemployment exists because of the socio-economic environment in which individuals operate.
Unemployment
Though there have been several definitions of "voluntary" and "involuntary unemployment" in the economics literature, a simple distinction is often applied. Voluntary unemployment is attributed to the individual's decisions, but involuntary unemployment exists because of the socio-economic environment (including the market structure, government intervention, and the level of aggregate demand) in which individuals operate. In these terms, much or most of frictional unemployment is voluntary since it reflects individual search behavior. Voluntary unemployment includes workers who reject low-wage jobs, but involuntary unemployment includes workers fired because of an economic crisis, industrial decline, company bankruptcy, or organizational restructuring.
what is the minimum school leaving age in the uk It is 19 years of age from the year 2017 were there any reasons for increasing the age? Yes, because it was increasing the rate of unemployment overall what do you mean by the last mentioned term? As per OECD, if persons above a specified age (usually 15) not being in paid employment or self-employment but currently available for work during the reference period. what are its various types? Cyclical or Keynesian unemployment, frictional unemployment, structural unemployment and classical unemployment are few types. what can you tell me about the second type? It is the time spent between jobs when a worker is searching for a job or transferring from one job to another.
wiki:19608811
Unemployment [SEP] Definitions, types, and theories
The state of being without any work yet looking for work is called unemployment. Economists distinguish between various overlapping types of and theories of unemployment, including cyclical or Keynesian unemployment, frictional unemployment, structural unemployment and classical unemployment. Some additional types of unemployment that are occasionally mentioned are seasonal unemployment, hardcore unemployment, and hidden unemployment. Though there have been several definitions of "voluntary" and "involuntary unemployment" in the economics literature, a simple distinction is often applied. Voluntary unemployment is attributed to the individual's decisions, but involuntary unemployment exists because of the socio-economic environment (including the market structure, government intervention, and the level of aggregate demand) in which individuals operate.