Unemployment Essay

390 Words2 Pages
Identify one major problem in your country? Suggestions for solving Unemployment 2)“Unemployment is like a headache or a high temperature ,unpleasant and exhausting but not carrying in itself any explanation of its cause.”(William Henry Beveridge).Everywhere in this world there is a constant struggle for an occupation. Those who can’t find a job are led to a world of misery. Unemployment is a major problem in Trinidad and Tobago. In order to stop this problem of unemployment certain things must be done such as creation of new jobs, cutting ones wage and population control. The first point be discussed is creation of jobs, a healthy economic growth rate of 2-3% is enough to create the 150,000 new jobs needed to keep unemployment from rising. At present it is hard to set up a business or establish own company. Creating workplaces would give a chance for those who are unemployed. It would be real chance to lower unemployment rate. There is a risk with financial consequences that such a company may collapse. However, without a risk we will not have chance to succeed. Second point to be discussed is cutting ones wage, it is said that the market for labor is like any other market and as the price of a commodity increases, the demand for it falls. In terms of labor, high prices (wages) causes lower demand of labour.We can cut down on how much we pay the employees, because the more leftover cash we have, the more people could be employed, hence then unemployment crisis can be minimized. Finally, the last point to be discussed is population control; the growing population is a major cause of many socio-economic problems. Job opportunities are not increasing at the same rate to accommodate the growing population. Hence the population growth has to be checked. Family planning programme has to be made more popular and other suitable steps are to be taken to minimize

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