what are the causes and consequence of unemployment
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Unemployment is caused by demand and supply side factors. On an individual level unemployment reduces the level of income that an individual earns. As their income has been reduced consumption also reduces as they pay for necessities rather than luxuries. The effects are most marked due to long terms unemployment.
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Causes:
- Lack of adequate education
- lack of vocational education
- discrimination in the society related to caste and religion.
- Also because of less vacant seats and high candidates.
Consequencs:
- India is lacking behind in GDP.
- It affects the family of the person worstly who didn't get a job.
I hope this much will help you
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