unemployment has a determinal impact on the overall growth of the economy. justify this statement
Answers
Answer:
Explanation:
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.
Answer:
Explanation:
(i) Unemployment leads to wastage of manpower resources.
(ii) People who are an asset for the economy turn into a liability.
(iii) There is a feeling of hopelessness and despair among the youth.
(iv) People do not have enough money to support their family. Inability of educated people who are willing to work, to find gainful employment, implies a great social waste.
(v) Unemployment tends to increase the economic overload.
(vi) When a family has to live on bare subsistence levels, there is a general decline in its health status and a rising withdrawal from the school system.