The problem of unemployment seems to be one of the most
painful problems in the modern world. Not only the underdevelopment countries
are suffering from this problem, even the highly industrialized is not free
from this difficulty. It is quite frustrating that more than forty percent of
the labor force is unemployed in Bangladesh. This problem is one of the major
constraints towards economic development of our country. Actually unemployed
are those workers who have ability and Willingness to work at the prevailing
wage rate, but they do not get employment according to their qualification or
productive capacity. According to Professor Pious, "A man is only
unemployed when he is both not in employment and also desire to be
employed." During the period of depression the volume of production is
reduced. As a result, demand for labor
falls, which results in a considerable unemployment of labor. Depression is one
of the important phases of trade cycle. So unemployment resulted from
depression is called cyclical unemployment.
