Question

Explain 5 effects of unemployment on the overall growth of the economy

Answer 1

Answer:

Explanation: as due to this a nation loises a, wothy, eligible and skillful human resources who can contribute alot for his nation

Also due to this poverty arises in the society which result is econom backwardness in a nation

Also due to this illiteracy icreases as when people are unemployed than they suffer from poverty.As due to poverty illiteracy occurs in the society

Moreover an empty mind is a home of evil so when the person is empty ir unemployed than he or she may get involved in antisocial activities. So these are se effects

Answer 2

Answer:

Explanation:

Any five effects of unemployment on the overall growth of the economy are:-

1) It blocks the growth rate of the economy.

2) It creates a more poor section of the society in the economy which becomes a burden.

3) Due to the unemployment, consumption, and demand falls which leads to a lack of investment and further falls in the growth.

4) It leads to social issues where the unemployed youth become more of a liability than an asset for the economy.

5) It creates a vicious circle of depressed environment where economic growth becomes difficult to achieve.

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