Unemployment

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Unemployment is a situation when people are not able to find a job even after being employable. Unemployment can be caused by a number of reasons from both the demand side (employer) and the supply side (worker). Demand-side unemployment may be caused by high-interest rates, financial crisis, and global recession. On the supply side, frictional unemployment and structural employment play a great role. Unemployment can affect both the workers as well as the national economy. Unemployment causes workers to suffer financial hardship that largely impacts families, relationships, and communities. If not tackled, unemployment can lead to huge losses to the country. It should be the responsibility of the government to generate opportunities for those who are seeking jobs. Hence, unemployment is a serious economic and social issue that tremendously impacts a lot of people. A better system of assessing unemployment should be put in place in order to address it better.


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