Question

How does unemployment have a detrimental impact on the overall growth of an economy?

CBSE Class IX Social Science SA (3 Marks)

Answer 1

> Wastage of manpower resource : In case of unemployment, manpower who is an asset for an economy turns into liability because utilization of manpower becomes nil.

> Economic overload : Unemployment tends to increase economic overload because dependence of unemployed on the working population increases. So the quality of life is adversely affected.

> Unemployment leads to social waste : Inability of educated people who are willing to work to find gainful employment implies a great social waste. Increase in employment is an indicator of a depressed economy.

Answer 2

Answer:

Unemployment has a detrimental impact on the overall growth of an economy. ... This is because unemployment creates a feel of hopelessness and depression among the unemployed people. Unemployment results in the wastage of human resource as people are not involved in any kind of productive activities.Aug 16, 2016