explain any 5 effects of unemployment on the overall growth of an economy.
Answers
2. If the person unemployed is a graduate , he or she will feel that education is useless which will affect the economy through the education field.
3. Unemployment leads to the reduce in finances.
4.The government of that state must kick start organisations and policies which again is a stress on the finances.
5. The growing unemployment leads to the person choosing to not work and lose hope , which again makes the economy suffer .
Answer:
Explanation:
Unemployment reduces national productivity. It reduces the national wealth. In some countries, some allowances are paid to the unemployed. So national funds are used up. Unemployment increases unrest.
Unemployment causes people to become thieves and terrorists. So more vigilance, police will be required to maintain peace. Also, unemployment means there is a scope of increase in the economy if they work too.
Unemployment shows as a bad indicator of the economy of the country. It also shows whether the economy is progressing or not. Unemployment shows that the economy of the country is not growing proportional to the country's population. So modernization is required and more investment is needed.
Unemployment means the education is not good enough for employment and skills imparted are not enough. Also, more fields of employment are to be explored. It also means that some important fraction of national wealth and time and effort is getting wasted. There is a possibility of revolution if the problem is too serious.
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