Explain four contributory factors to unemployment
locally and globally
Answers
Illiteracy is the biggest reason behind all of the social problems.
Unwanted social divisions like religion,caste etc ,often becomes the reason behind social problems.
Poverty is also a major reason.
Lack of proper leadership is also becoming a major factor for these social problems.
Answer:
4 contributory factors to unemployment locally and globally are
1) Economic recession.
2) Strict imposition of rules and regulations.
3) Increase participation in informal sector activities.
4) Rapid Technological change
Explanation:
1) Economic recession- In this period, businesses start losing money because there is less demand. To prevent further losses, companies and organizations start laying off their employees, creating higher levels of unemployment.
2)Strict imposition of rules and regulations- When there are loads of standardized inflexible rules and restrictions imposed on firms that discourage them from hiring, unemployed workers cannot get the job. This can be seen in European countries.
3) Increase participation in informal sector activities.- People working for jobs that don't provide regular stable wages, jobs on contract bases, casual laborers, street sellers, money changers, etc. can provide the individual money, shelter, or food but for a short period, and the job security is less, which can make them hassle between other jobs.
4) Rapid Technological change- In developing countries when the profile of job seekers cannot match the eligibility of the job in demand due to a lack of required technological skills, it leads to an increase in unemployed individuals who are not getting jobs because they are not in sync with the current technological advancements.