Question

Unemployment has determentle impact on the overall growth of an economy

Answer 1

1.Unemployment leads to wastage of manpower
2. People who are an asset for the economy turn into liability.
3.There is a feeling of hopelessness and despair among the youth.
4.Inability of educated people who are willing to work, to find gainful employment, implies a great social waste.
5. Unemployment tends to increase the economic overload.
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Answer 2

This increase the financial cost for the government as in many countries they pay the unemployed people. This cause the decrease in production and increase in the cost. 

The unemployed people save more rather than spending this cause a decrease in economy.

The standard of living decreases

The cost per person increases and quality of health decreases

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