Question

How unemployment affects the growth of economy?Plz answer as 5 mark question in points

Answer 1

When someone loses a job, a family is affected. When many people lose their jobs, eventually the whole nation is affected. Workers lose income, while the country loses production and consumer spending. With such a strong impact, the unemployment rate is a key way to measure the state of the economy.

Answer 2

Heya....❤️❤️❤️

here is ur answer...

Unemployment is like a backbone fracture in an economy. Unemployment directly affects a country's economic growth. if a country has high unemployment rate than definitely there would be no production and without Production a country's economy couldn't survive.

If we talk about effects than there are many direct and indirect effects ( long term effects) on a country if it face high rate of unemployment. You can observe today's employment environment in india and can feel the difference after demonetisation and GST . In Oct quarter India's unemployment rate has increased marginally, resultant economic growth directly decreased by 1 basis point. ( May be some other causes but unemployment has its own effect)

Direct Effects on a country:-

1. Slowdown in country's growth

2. Poverty

3. Loss the Credit of country on international stage

4. On country's share market

5. Low production

6. Reduction in tax collection

7. Loss of young talent

Indirect ( long term )effects on society and economy

1. An Increase in crime rate

2. Reduction in per capita income

3. Elopement of young talents

4. Low living standard

5. Health issue like Malnutrition,starvation etc.

So where Unemployment affects a country's growth on one side it has bad long term effect on the other side.

hope it helps...

plzz mark me as brainliest my dear !!!

❤️❤️❤️

All The Best !!!

❤️❤️❤️