Economy, asked by ihsan59526, 1 year ago

Discuss how unemployment has a very negative impact on growth of economy.(Question for 5 marks)

Pls give the answer correctly or else i have to report.

Answers

Answered by Unknownstranger2
1

Hi

Here is your answer ____________

What are effects of unemployment on economy?

Unemployment is like a backbone fracture in an economy. Unemployment directly affects a country's economic growth. if a country has high unemployment rate than definitely there would be no production and without Production a country's economy couldn't survive.

If we talk about effects than there are many direct and indirect effects ( long term effects) on a country if it face high rate of unemployment. You can observe today's employment environment in india and can feel the difference after demonetisation and GST . In Oct quarter India's unemployment rate has increased marginally, resultant economic growth directly decreased by 1 basis point. ( May be some other causes but unemployment has its own effect)

Direct Effects on a country:-

Slowdown in country's growth

Poverty

Loss the Credit of country on international stage

On country's share market

Low production

Reduction in tax collection

Loss of young talent

Indirect ( long term )effects on society and economy

An Increase in crime rate

Reduction in per capita income

Elopement of young talents

Low living standard

Health issue like Malnutrition,starvation etc.

So where Unemployment affects a country's growth on one side it has bad long term effect on the other side.

Hope it helps you


Unknownstranger2: Mark as brainliest if it helps you
Answered by BrainlyHeart751
29

Unemployment is like a backbone fracture in an economy. Unemployment directly affects a country's economic growth. if a country has high unemployment rate than definitely there would be no production and without Production a country's economy couldn't survive.

If we talk about effects than there are many direct and indirect effects ( long term effects) on a country if it face high rate of unemployment. You can observe today's employment environment in india and can feel the difference after demonetisation and GST . In Oct quarter India's unemployment rate has increased marginally, resultant economic growth directly decreased by 1 basis point. ( May be some other causes but unemployment has its own effect)

Direct Effects on a country:-

Slowdown in country's growth

Poverty

Loss the Credit of country on international stage

On country's share market

Low production

Reduction in tax collection

Loss of young talent

Indirect ( long term )effects on society and economy

An Increase in crime rate

Reduction in per capita income

Elopement of young talents

Low living standard

Health issue like Malnutrition,starvation etc.

So where Unemployment affects a country's growth on one side it has bad long term effect on the other side.

Mark as brainliest please

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