Causes and Effects of Unemployment Essay

978 Words4 Pages
Causes and Effects of Unemployment Causes and Effects of Unemployment Money is a fundamental need of human beings to ensure their sustenance in this world. Since time immemorial, measures for earning money including the establishment of businesses and seeking jobs are the usual practices. However, the ease of finding an employment prospect and availing it comfortably is enormously dependent on the economic situation of the global market. It has come to the surface that employment arena has become bleak over the past few decades due to various reasons (Mortensen & Pissarides, 2011). In this context, the thesis statement that has been focused in the following discussion is ‘Unemployment is a grave issue confronted by human society as a whole, and it is an outcome of numerous reasons. Moreover, it holds catastrophic impacts that victimize the unemployed person, his/her family, and the economy as a whole.’ Sources have revealed structural unemployment as a major cause of joblessness. It implies that the aspect of occupational immobility is saturating the unemployment arena; thus, making it grave with the passage of time. It is prudent to notify that each job requires employees with a particular skill set that makes them capable of performing the work related tasks appropriately. However, skills required for different jobs are diverse. Therefore, if an employee loses a job, which was oriented to the field of agriculture, for instance, then he may not be able to acquire a metallurgical job, as his talent is unsuitable for the new job (Forstater & Wray, 2008). Similarly, the induction of technology in the workplaces has caused the employers to look for candidates who can efficiently utilize mechanized elements to attain productive outcomes. However, due to lack of affordable, diversified, and effectual vocational trainings in the

More about Causes and Effects of Unemployment Essay

Open Document