Question

explain five effects of unemployment on the overall growth of an economy

Answer 1

the five effects of unemployment on the overall growth of an economy are as follows

the basic effect of unemployment is that if the person is unemployed he is not able to fulfill the basic needs of his family like food ,shelter, and cloth .

if the person is unemployed then he is not able to sent his children to the school .

at the time of suffering he is not able to to give medicines and treatment to cure the person of his family

if the person is unemployed then he have not good clothes or dresses for his and his family members

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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