how the production of goods and employment generation help the developing countries in sustaining economic growth
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Increased employee earnings leads to a higher rate of consumer spending, which benefits other businesses who depend on consumer sales to stay open and pay vendors. ... This leads to a healthier overall local economy and allows more businesses to thrive.
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The empirical studies state that economic growth tends to be positively linked with employment generation in sustaining economic growth in developing countries.
- Most developing countries struggle with unemployment or underemployment. So, it is very important to create jobs and improve income conditions because creating jobs and income is crucial for development.
- If seen economically, employment generation provides income to poor families and revives domestic goods and services, and stimulates overall growth.
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