The Causes and Effects of Unemployment. The term unemployment is used to describe anyone who is able to work, but doesn’t have an occupation. Unemployment is one of the most common and chronic problems worldwide. It is a concern for individuals as well as global communities.
The unemployment rate has begun to gradually worsen, and there is a possibility that we have recorded the lowest ever. As the unemployment rate increases, the reason is aging, youthfulness, and outsourcing, but some claim that this is the cause.The process of cause and effect. It’s hard to live a normal healthy life without a job and money. There are many reasons why people are unemployed, but in turn this state of unemployment can cause one to experience financial, emotional, and personal problems.The major cause of the unemployment in the society is the improper management of the resources and giving unequal status to the people of society. Here are some major causes behind the unemployment given below. Unequal Distribution of resources The economic resources are unequally distributed among the people in a society of nation at large.
The negative effects of unemployment can be lessened. Individuals who face unemployment with greater financial resources, as well as those who report lower levels of subjective financial strain, report better mental health and more life satisfaction than those who experience unemployment with fewer economic resources and a greater sense of financial stress (McKee-Ryan et al., 2005).
Every action comes with a consequence however, the causes and effects of unemployment are very potent in life. For example, an individual may lack the proper skills for the hand at task so their job will be terminated. The same goes for if they are absent often or late, that will not be tolerated.
Unemployment not only affects those out of work, but it also affects individual family members and communities as well as society. Unemployment generates poverty; causing a negative effect on the American society as a whole. Many families suffer a shocking toll with an emotional, psychological, spiritual, and physical downfall.
The disruption and social problems caused by unemployment often lead to problems with health, depression, stress and anxiety. For instance, Paul Solman of PBS noted that unemployment has been connected to higher instances of heart attack, lower self-esteem and increased medical visits.
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Effects or Consequences of Unemployment: 1. Affects the economy of a region very negatively: It is rather interesting to note that the global economic crisis is not merely a cause but also an effect of unemployment.
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The purpose of this paper is to look into the causes, effects and solutions to youth unemployment problems in Nigeria. The rate at which unemployed graduates roam the street after the National Youth Service constitutes social malice to the country as a whole. The data for this paper was collected from secondary sources using.
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There are several economics problems that affects the growth of unemployment, therefore, this essay will discuss the methods used to measure unemployment, the major economic factors that have an impact on unemployment and the effect of unemployment on the government and citizens. Also, the.
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