Voluntary Unemployment – Definition, Examples, Types & Reasons

20 December 2021

Voluntary unemployment is a circumstance where the unemployed individual decides not to consider the job at the going wage rate. This can be due to various reasons that we will discuss in this article.

This type of unemployment refers to voluntary non-working. Examples of this unemployment are people who refuse certain job offers because their benefits are not in line with expectations.

On the other hand, voluntary unemployment contrasts with involuntary unemployment, which includes people who are prepared to work but are jobless.

What Is Voluntary Unemployment? How Is It Different From Involuntary Unemployment?

Voluntary unemployment describes the number of individuals in an economy without jobs because they choose to be unemployed. The primary reasons can be an incompatibility with open positions or low wages.

On the other hand, involuntary unemployment means there are no types of job openings that fit your expertise. Or, you may not have the right qualifications that fulfill the employer’s expectations.

So, I believe that both topics should not be overemphasized. In fact, most of the workers even have a chance of being employed at a certain wage level.

Reasons For Voluntary Unemployment

There can be specific reasons for voluntary unemployment and these are described below.

i). Certain jobs are very boring, such as security guard, fruit picking, etc.

ii). There are many individuals who are looking for a job as per their skills and qualifications. However, it is very difficult to find nowadays.

iii). There are many unemployed benefits a person receives from the government when he/she has no way to feed their family.

iv). High marginal tax rates also prevent people from looking for work. These tax rates minimize the salary they bring home.

v). Most people think that they are financially prosperous with unemployment benefits rather than considering low wages.

Voluntary Unemployment Relationship With Other Forms Of Unemployment

Voluntary Unemployment is politically sensitive because it highlights that the unemployed are lazy and not willing to work due to low wages. It can also cause poverty in the long run if it is used as a reason for cutting unemployment advantages.

So, there is a strong relationship between voluntary unemployment with other forms of unemployment.

1. Involuntary Unemployment

Involuntary unemployment occurs when those who are able and ready to work at the going wage rate but are limited by factors beyond their control.

These factors can be efficiency wage theory, implicit wage bargaining, labor market inflexibilities, and deficiency of aggregate demand.

2. Demand Deficient Unemployment

Demand Deficient Unemployment occurs when a fall in economic growth leads to less demand for labor. A fall in aggregate demand means that fewer goods and services are in demand, and less labor is needed.

For example, the demand deficient unemployment graph had increased during the Covid-19 pandemic. At the same time, the unemployment rate had also increased.

3. Structural Unemployment

Structural unemployment is caused by a mismatch of skills between the available jobs and the unemployed. This is usually caused by changes in the economy.

For example, skilled pilots would lose their jobs if airplanes became completely automated. Then, these pilots may struggle to start again in the new industry.

4. Frictional Unemployment

Frictional unemployment is when employees decide to leave their current positions in order to find new ones and individuals entering the workforce for the very first time.

Besides, this unemployment type has a very close relationship with voluntary unemployment, and it occurs naturally.

Frequently Asked Questions (FAQs)

1. What Are The Six Types Of Unemployment?

Ans: The six most common types of unemployment are Frictional unemployment, Institutional unemployment, Structural unemployment, Cyclical unemployment, Disguised unemployment, and Technological unemployment.

2. What Are The Examples Of Voluntary Unemployment?

Ans: Voluntary unemployment refers to deciding not to be employed despite the availability of work. The best example of voluntary unemployment is quitting one’s job, and there can be various reasons for the same.

3. Is Voluntary Unemployment Not Considered As Unemployed?

Ans: Voluntary unemployment is the situation where a person is able to work but denies to work due to many reasons. They are known as unemployed of their own will. Thus, they are not considered unemployed and will not be given any benefits by the government.

4. What Is The Difference Between Voluntary And Involuntary Unemployment?

Ans: Voluntary unemployment is the situation where a person is able to work but denies to work due to many reasons. At the same time, involuntary unemployment occurs when a person is unemployed, notwithstanding being ready to work at the current wage.

The Final Thoughts

Voluntary unemployment is rising at present, and there are many reasons for the same. For example, a person looking for a job and not getting the desired job according to his skills and qualifications may reject the job opportunity. Thus, this is all about voluntary unemployment and how it affects your day-to-day life.

Read Also:

Mashum Mollah

Mashum Mollah is the feature writer of Search Engine Magazine and an SEO Analyst at Real Wealth Business. Over the last 3 years, He has successfully developed and implemented online marketing, SEO, and conversion campaigns for 50+ businesses of all sizes. He is the co-founder of Social Media Magazine.

View all posts

Is Oil & Gas Production A Good Career Path In 2021?

Is Oil & Gas Production A Good Career Path in 2021? Choosing oil and gas production jobs can be your best choice because you get handsome salaries at the end of every month. At the same time, there is a wide range of jobs available in the oil and gas sector. In the United Kingdom alone, there are more than three lakhs of jobs available. So now, you can analyze the strength of the oil and gas production industry. Moreover, the oil and gas production industry is an innovative place to work in. The industry offers several career opportunities during its entire value succession, be it downstream, midstream, or upstream. Oil & Gas Production Industry - What You Need To Know? Every industry has its pros and cons, and the same goes for the oil and gas production industry. However, it is obvious that workplace safety matters a lot for any individual. Many people think that working in the oil industry may not be safe for everyone. But there is one good piece of news that this sector is paying good attention to workplace safety. The conditions of working in this sector are also great, and you may get all the facilities that you had always wished for. Besides, the future of the oil and gas industry is bright as it supports more than 9.8 million jobs in the US alone. The pay scale is also great in this sector, and you don’t have to worry about paying your monthly bills. Best Career Paths In The Oil & Gas Production Industry The oil and gas production industry is a promising platform where you can grow your future with compensation packages. Now, let’s know the best career paths in the oil and gas production industry. i). Oil & Gas Attorney The attorney in this industry is basically involved in the contract formation and reviews that go in the transaction of 2 firms. Here, the main role is to manage the ownership of minerals, royalty, and surface rights relating to a property. ii). Financial Analyst Another career path in the oil and gas industry is Financial Analyst. One should be responsible for tracking a company’s performance against a plan, analyzing the market conditions and business performance. They also help to shape the strategic planning of the company. iii). Logistics Analyst Another best career path in the oil and gas production industry is Logistics Analyst. Here, the individual is responsible for the complete life cycle of particular products within the company. iv). Project Engineer A Project Engineer handles a project from an engineering point of view. Here, you will learn some new skills, explore fresh technologies, and travel across the globe. At the same time, you will get great exposure with high salary rewards. v). Human Resource Human Resource is also one of the great career paths in the oil and gas production industry. Here, you need to make sure that the company is managing its employees directly and complying with employment laws. vi). Derrickman A derrickman is a branch of the oil drilling rig crew. You need to shoulder the burden of carrying out safe and effective methods of the derrick. This is also a great path that you can consider for yourself. vii). Geologist Geologists are liable for getting new reserves of gas and oil and getting much oil and gas out of existing areas. This is one of the great career paths that you can choose in the oil and gas production industry. Is Oil & Gas Production A Good Career Path? The answer to this question is Yes. You can choose your career in this particular field or consider other career paths such as energy utilities, basic industries, public utilities, consumer services, hotels/resorts, electric utilities, packaged foods, etc. Millennials can go for business services if they are not interested in doing a job. There is not a particular position in this sector that will stick with, in fact, lots of opportunities you will get in the long run, and you will enjoy the same for sure. On the other hand, you would get selected based on your skills and qualifications in the gas production field. Handsome salaries are also paid at the end of the month with high incentives. The Final Thoughts Is Oil & Gas Production A Good Career Path? Now, you know why the gas and oil production industry is popular, and many wish to work in the same. The above listed are the top information regarding this sector, and if you come across any doubts, you can mention them in the comment section below. Read Also: Is Clothing/Shoe/Accessory Stores A Good Career Path Is Real Estate Investment Trusts A Good Career Path Is Precious Metals A Good Career Path How Many Jobs Are Available In Real Estate Investment Trusts?

When To Choose An Image Consultant To Help You?

When choosing an image consultant is a decision that will be influenced by a number of factors. These factors include the age limit for hiring an image consultant, the skill set required to be a good consultant and the goals you want to achieve by hiring a consultant. Read on to learn when to choose the right consultant for your needs. 1. Skills Required To Be An Image Consultant Those seeking a career as an image consultant need a number of skills in addition to an education. They must be commercially aware and have a flair for creativity. They also need to be sensitive to a client's needs and preferences. In addition, they must have excellent communication skills and be confident in public speaking. Whether consulting for fashion brands or other clients, image consultants must engage corporate clients and promote themselves through appropriate media. The Association of Image Consultants International (AICI) offers three levels of certification in the field. Certification will increase your potential to attract new clients and build your own business. Certification through this organization can also help you distinguish yourself from competitors. Members must also meet certain requirements for experience, pass an exam and obtain a business license. In addition, some aspiring image consultants choose to obtain experience through apprenticeships or other work experience. An image consultant works closely with a client to improve their personal or professional image. They assess a client's current image and then recommend changes that will make the client appear more attractive and confident. They may also suggest changes to their communication style or public relations strategy. Ultimately, the success of an image consultant is dependent on their ability to help their clients improve their standing among their intended audiences. An image consultant must have strong communication and listening skills, as well as excellent interpersonal skills. They must be able to analyze a client's weaknesses and strengths quickly and formulate an image enhancement plan. It is also helpful to have training in business management and computer skills if you plan to start a consulting company. An image consultant must have a strong sense of style, impressive communication skills, and a keen eye for fashion. Image consultants should also have excellent interpersonal skills and the right personality to help clients. It is important to be outgoing, have a positive attitude, and have a passion for fashion. 2. Goals Of Working With An Image Consultant Hiring an image consultant is an excellent option if you wish to create a better image for yourself. This consultant will provide you with tips and tricks to enhance your image and personality. Your image reflects your personality and the way you interact with other people. They will help you improve your communication and body language. First, you should know the type of market you are going to serve. A professional image consultant should do thorough market research and choose the right target audience. A good business plan will include costs and pricing details. It also should include your target customer base. A proper business plan can help you achieve your vision. Secondly, you should be confident in your skills and knowledge. A professional image consultant should have a well-developed portfolio. Ideally, an image consultant has two portfolios - one digital and one physical. The latter can be used for in-person meetings. The portfolio shows the quality of the consultant's work and should contain testimonials from satisfied clients. Additionally, an image consultant should use social media extensively to reach a wider audience. Next, you should consider the training of the image consultant. A qualified image consultant should have experience and a degree in image management or another related field. For example, a certified image consultant has experience in working with homemakers, students, women on sabbaticals, and people seeking a second career. An image consultant should be a good listener, a team player, and have a high level of expertise in their field. An image consultant should be passionate about what they do. They must have a passion for helping people look and feel their best. The image consultant should have an excellent sense of style and strong verbal communication skills. They should also be creative and be able to listen to their clients. The consultant will help you find your personal style and personal brand. They will look at your lifestyle and behavior patterns, assessing your needs, insecurities, and budget. The consultant can also help you build a wardrobe for specific occasions and activities. They will show you the types of clothing and accessories that look best on you and show you the best places to shop. 3. Career Path For Image Consultants A career as an image consultant is an exciting and rapidly expanding industry that offers a variety of career options. Sonia Dubey Dewan is the founder of the Indian School of Image Management (ISIM), a world-renowned image consultant, published author, and international keynote speaker. She is also a certified image professional with the Association of Image Consultants International (AICI). Image consultants specialize in enhancing a client's appearance by recommending the right clothing and accessories. They also assist their clients with hair and make-up. These professionals must have a broad understanding of the latest fashion trends. Image consultants also help businesses improve their corporate image by helping front-line employees look their best. They also help improve communication and customer interactions. In addition to having a great sense of style, an image consultant needs to have excellent interpersonal and communication skills. They also need to be creative and empathetic. They should also have a love for working with people and enjoy teaching others. They must also enjoy working with clothes and colors and have a strong interest in psychology. Image consultants may also choose to specialize in certain fields, such as beauty, communication, or fashion. Image consultants are typically self-employed, working from their homes or studio. However, they may have to travel to meet their clients. Private clients would typically be in their neighborhood, while corporate clients would require an image consultant to travel to their company's headquarters. In either case, they would dress in a suit or smart casual attire. Having a driving license is also helpful. The career path for image consultants can include working with celebrities, brands, and influencers. Image consultants must have excellent communication and networking skills to effectively work with their clients. They must also be able to remember details and connect with clients on a deeper level. Networking with other image consultants and other professionals is a great way to gain experience and build a reputation. Image consultants are often self-employed, but some join a professional association to get the support they need. The Federation of Image Consultants, for example, has over 300 members and provides support for business development. While there are no formal requirements to become an image consultant, there are a number of challenges that can be encountered. Firstly, the competition is fierce, and the majority of these consultants are located in the south of England. Nonetheless, this does not prevent a person from working in any part of the country. 4. Age Limit For Hiring An Image Consultant There is no age limit for hiring an image consultant. These professionals specialize in helping clients improve their self-image. They also help clients improve their non-verbal behavior, interpersonal communication, and professional presence. In addition to helping people improve their looks, image consultants also assist people with shopping. Personal stylists also serve as image consultants. Personal image is an essential aspect of a person's life. The way a person communicates will reflect their image and will influence how others perceive them. An image consultant can improve your body language, volume, tone, and pitch. These skills are vital to building a good impression. While hiring an image consultant is not necessary for every situation, the results can be life-changing. Working with an image consultant is an ongoing project that will benefit you for many years. Your career and personal life will change, and you will need to keep enhancing your image. An image consultant can help you develop your personal brand and create a wardrobe that expresses your true self. It is essential that you choose an image consultant with the right credentials. Certification shows that the consultant is trained and has advanced education in the field. Be sure to look for a member of the Association of Image Consultants International (AICI) to ensure their professionalism. Once you choose an image consultant, it's time to begin the training. Image consultants can be entrepreneurs or full-time employees. They work in any industry, from premium fashion to media and entertainment to retail. There is no age limit on who an image consultant can help. With the right training and experience, you can make a successful career as an image consultant. With such a high demand for image consultants, companies have entire departments dedicated to Image Management. They offer periodic training to staff. Additionals: 5 Corporate Video Production Styles Video Production Companies In Barcelona 8 Powerful Reasons You Need To Use Video Marketing Savefrom Online Video Downloader 2022| Reviews, How To Use, Pros/Cons, FAQs

What Makes A Cover Letter For Resume Stand Out?

When job hunting, a standout resume is the first step in the door with a potential employer. But another component that should never be overlooked is the cover letter for the resume. It’s your chance to show some personality in addition to your resume and tell a story. Whether it is how and why you’ve made it to this point or why you are right for the candidacy. Let’s run through some other resume tips and how they all fit together. Especially when you’re writing that ever-important cover letter for your next big opportunity. Why A Cover Letter? Before discussing structure and style, it’s worth considering why a cover letter is still essential to any job application. While a resume or CV offers the facts about your experience and skills to date, the cover letter sets you apart. It sets the scene for who you are and why you’ll be perfect for the role. 1. A Strong Opening At any given time, on average, there may be anywhere between 50 to 200 applications sent in for one advertised position. So, how do you make your application shine while ensuring accuracy? The best way to grab the reader at hello (or, indeed, their first sight of your application). How about a quick taste hinting at what they will soon discover? Show them an enthusiastic interviewee brimming with excitement over the prospect of working with them. 2. Personalize & Make It Stand Out One of the most important resume tips is never to be generic when writing a cover letter. You want your cover letter for your resume to stand out! Not sound like it was written by someone who submitted their application for every company advertised on the job boards. Make sure you speak specifically about why you are interested in that job with that company. Also, do some research before you apply for the job to get a feel for the type of company it is. Then, try incorporating similar values or beliefs about the industry into your cover letter. For Example, If the company you’re applying to is big on innovation and you’ve previously worked on a creative project, put it at the very start. It’ll make your cover letter more memorable. “I am interested in applying for the Marketing Manager position at [Company Name]. I’m passionate about being able to tell creative stories and have developed and delivered some innovative campaigns. Which I feel would be a great fit for your team!” 3. Show, Don’t Just Tell One of the most important resume tips when writing a cover letter is to support your claims with evidence. Instead of saying, “I have strong conceptual skills,” give an example showing your leadership in action. For Example, “I oversaw leading a team of 10 to create a social media strategy that boosted engagement by 30% in 6 months. My direction helped the team to work together effectively." By giving specific examples, you don’t just make the hiring manager understand what you can do, but you also talk about your achievements. 4. Connect Daily Work To Job Title Another great resume tip is to read the job posting closely and consider connections between your day-to-day experiences and what the company seeks. Now, highlight the same for your cover letter for your resume. If the job description mentions that you need experience with customer relationship management (CRM) systems, you have it; mention it! Don’t leave it up to the hiring manager to determine your qualifications. For Example: “I have worked with Salesforce for five years and know I can oversee and enhance CRM systems to facilitate customer engagement and business development.” 5. Don’t Just Paste Your CV Your cover letter shouldn’t be a rehash of your CV! Plus, recruiters get frustrated when they must read the same thing after reading your resume. To take advantage of the ‘cover’ part of the cover letter. Yes, you need to use it as an opportunity to explain how you would benefit from an employer. The best way to do this is not with complex and lengthy sentences but with clear and confident writing. Let your cover letter show enthusiasm (a love, even) for the job. For Example, "I’ve always been impressed with [Company Name]'s reputation for sustainability, and amazingly. Your team is truly committed to innovation and the future." You can end it well with this! "Thank you for considering my application. I look forward to discussing how my experience and skills could contribute to your organizational goals. Please contact me at your convenience so that we can schedule a time to speak or meet.” 6. End It Well! End your cover letter for your resume on a high note! Politely let the employer know that you’ll be in contact to schedule an interview. Plus, don’t forget to mention how excited you are to apply for the position. For Example: “I would welcome the chance to speak with you further about how I could benefit [Company Name]. Thank you for your consideration. I hope to have the opportunity to contribute to your team.” 7. Proofread For Perfection This is probably the most important part of writing a cover letter! Keep it free from grammatical errors! Typos and grammatical errors can make even the best-written cover letter appear sloppy and unprofessional! One of the most basic yet frequently overlooked resume tips is double-checking your cover letter for typos. You want to show that you’re careful, and typos don't give that impression! Before you submit it, take the time to re-read your cover letter. Especially if it is a fresher cover letter. Get a friend or mentor to read it and provide feedback. A peer removal can always be useful in catching something that you missed. 7. Keep The Format Simple And Professional Also, remember to pay attention to the formatting of your cover letter. Keep the contents on a single page and use spacing effectively. In addition, maintain a professional tone while providing insight into your personality so that your letter leaves an employer wanting to learn more about you. They shouldn't lose track while reading huge paragraphs! That is a major buzz kill, and they might not even finish reading it! At the top of the letter, include your name and address (alternatively, you can include your phone number/ email but not both), followed by the date and the recipient’s name and address. If you can’t find this information easily, you can put yourself ahead of other applicants by addressing it properly: “To the Hiring Manager” or “To Whom It May Concern.” Yes, (Before You Ask Again), It Is Important! Never ignore the power of a cover letter for a resume. A resume is just data, but a cover letter is your chance to tell why you became the person you are today and why the position you’re applying for is the perfect next chapter in your career. Many job seekers may think the cover letter is less important than the resume. However, writing a strong introduction makes it easier for the employer to connect with you and put your resume on top of the stack. Employers won't even look at your resume if they aren’t impressed with your cover letter. So, consider it an opportunity to bridge your resume to an interview. To show personality and excitement about the position and get them to want to know more about you! It’s a process, so be patient. Work on personalizing each one before sending it out, and spell-check everything! & If our tips got you at that job interview, don’t forget to check out the interview questions to prepare yourself better! Read Also: Top 10 Best Job-Boards In The US In 2023: A Comprehensive Guide How Many Jobs Are Available In Precious Metals? Is Hotels/Resorts A Good Career Path In 2021

Voluntary Unemployment – Definition, Examples, Types & Reasons

What Is Voluntary Unemployment? How Is It Different From Involuntary Unemployment?

Reasons For Voluntary Unemployment