Unemployment has detrimental impact on overall growth of an economy. Justify the statement.
Answers
Answer:
Answer: 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.
Explanation:
. The detrimental impact of unemployment is as follows:
(a) Unemployment negatively impacts the economy of the country. This is because unemployment
creates a feel of hopelessness and depression among the unemployed people.
(b) Unemployment results in the wastage of human resource as people are not involved in any kind of
productive activities. This makes them a liability for the nation.
© Unemployed people are not able to support their families and educate their children. This makes the
entire family dependent on the nation, and hence, the dependence of unemployed people increases on
the working population of the country.
(d)The quality of life of an unemployed person deteriorates which also impacts the social life of a
person. This may result in people engaging in illegal activities such as theft, robbery, etc.