Question

"Unemployment has extreme impact on overall growth of an economy"Explain.

Answer 1

However, Unemployment causes a sort of ripple effect across the economy....
Again that loss in disposal income becomes ripple effect and less money will be spent in the economy, leading to more people losing their jobs and it starts to become a vicious cycle, unless it is broken by changes in policy or other factors.

Answer 2

Hi friend
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Your answer
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UNEMPLOYMENT has an extreme impact on the overall growth of an economy. It can be explained by the following reasons : -

(1) Unemployment is a bane to an economy . It leads to wastage of human resource because many talents are not being utilised.

(2) It creates a sense of disparity among the youth. They feel themselves as a burden and !at take criminal ways to earn money.

(3) Unemployment creates shortage of resources as large sections of people are not producers but consumers.

(4) Unemployment leads to talented people leaving the country to find better job opportunities in other countries.

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