What is your opinion about Unemployment?
What are the causes of Unemployment?
Unemployment: The state of being without any work yet looking for work is called unemployment. The term unemployment is used to describe anyone who is able to work, but doesn’t have an occupation. Unemployment is one of the most common and chronic problems worldwide. It is a concern for individuals as well as global communities. Unemployment is expressed as percentage of the total available work force that is unemployed, but actively seeking employment and willing to work which is known as the unemployment rate.
According to me there are four causes of Unemployment
1.Firstly, the increased population which leads to higher unemployment rates.
2.The new advanced technology replaced the low skilled or unskilled workers in different factories. This made production faster and more accurate, but it resulted in more unemployed people.
3.The third cause of unemployment is lack of education or skills for employment. This happens when the qualifications of a person are not sufficient to meet his job responsibilities.
4.Unemployment can be due to the rising cost. The rising cost makes it hard for the companies to pay the usual optimum salary for the employees or even the minimum wage in some cases.