Question

Pls write a speech on impact of unemployment

Answer 1

The unemployment rate is a measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force. During periods of recession, an economy usually experiences a relatively high unemployment rate.[1] According to International Labour Organization report, more than 200 million people globally or 6% of the world's workforce were without a job in 2012.[2]

There remains considerable theoretical debate regarding the causes, consequences and solutions for unemployment. Classical economics, new classical economics, and the Austrian School of economics argue that market mechanisms are reliable means of resolving unemployment. These theories argue against interventions imposed on the labor market from the outside such, as unionization, bureaucratic work rules, minimum wage laws, taxes, and other regulations that they claim discourage the hiring of workers.

Answer 2

IMPACT OF UNEMPLOYMENT Unemployment is an economic phenomenon that occurs in most, if not all, world countries. It means that no availability of legal job opportunities for those who are able to work and qualified for labor. As a result, it has a negative impact upon individuals, families and communities. In this regards, Thomas Carlyle states ”a man willing to work, and unable to find work, is perhaps the saddest sight that fortune’s inequality exhibits under this sun”. It can be either a total unemployment or a partial one. The former means the loss of earning due to the inability to get a suitable job in spite of being able to work and well-prepared for it, while the later means a temporary reduction in normal or legal working hours as a result of economic and technological reasons. In addition, unemployment has three forms. For instance, open unemployment, optional unemployment and disguised unemployment. Open unemployment is about those fresh job seekers for the first time; represented mostly by fresh graduates. Optional unemployment is represented by those who reject to work and refuse the job opportunity voluntarily. Disguised unemployment is the big and unnecessary number of employees in a workplace where they work fewer official hours. Unemployment has had several negative effects on a country such as illegal activities, marriage deferment and emigration.